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Bitcoin and the wider cryptocurrency market have shown strong recovery, with Bitcoin exceeding $ 93,000 earlier today after an increase of almost 10% in the last 24 hours.
The increase follows the announcement of an American crypto -strategic reserve, which is expected to include important digital assets such as BTC, ETH, SOL, XRP and ADA.
The news has fueled optimism in the market and Bitcoin is again above the level of $ 90,000. Because the price movement of Bitcoin is gaining strength, analysts seem to have closely investigated the current correction phase in the current bullish cycle.
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Cryptoquant Analyst Grizzly has shared Insights into the historical price behavior of Bitcoin, which suggests that the actively possible patterns from the past repeat that they preceded important rallies. If these trends hold, BTC could position itself in the coming months for a large outbreak.
BTCs Historical Price Patterns and Market Preview
According to Grizzly, Bitcoin is currently in his third corrective phase in the bullish cycle that started at the beginning of 2023. This pattern has been observed using the Utxo – age tires – a metric tracking how long BTC stays unmoved in portfolios.
Similar corrective phases took place in the summers of 2023 and 2024, each of which lasts approximately six months. During these periods, BTC experienced resistance before he eventually broke out in new price heights.
Grizzly revealed that if this trend continues, BTC can stay in a consolidation phase for two to three months, which fluctuates between $ 80,000 and $ 100,000. An outbreak of more than $ 100,000 can possibly push the end of the correction and BTC may push to $ 130,000, such as historical data suggesting.
The cryptoquant analyst noticed:
Participants in the market must keep a close eye on the structural dynamics of the premium tires, because a confirmed break over resistance can indicate the next parabolic stage of Bitcoin’s Bullmarkt.
Bitcoin’s path to $ 100k: what market indicators suggest
Another cryptoquant analyst, Onchainsschool, has provided further insight In the potential price movement of BTC above $ 100,000. The analyst highlights the MVRV Z-score, a metric that follows Bitcoin’s appreciation compared to its historical real value.
According to the analyst. The current Cooldown in the MVRV Z-score indicates that Bitcoin could soon start a quick-up route, comparable to the price promotion that was observed in the beginning of 2024 when BTC rose to new all time beyond $ 72,000.
Unlike earlier cycles, however, the market seems to be moving faster, possibly influenced by the developing political landscape in the US.
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With increasing attention on cryptocurrency of policy makers and institutional investors, there is a chance that BTC could break rather than expected than expected.
Whether this acceleration will be enforced depends on several factors, including the developments of regulations, macro -economic conditions and continuous market demand to Bitcoin as hedge assets.
Featured image made with Dall-e, graph of TradingView
