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Bitcoin and comprehensive cryptocurrency markets have shown strong recovery, after an increase of about 10% in the last 24 hours, bitcoin has crossed $ 93,000 today.
Serge follows the announcement of the US Crypto Strategic Reserve, which is expected to include major digital assets such as BTC, Ath, Sol, XRP and ADA.
This news has promoted optimism in the market, pushed Bitcoin above a level of $ 90,000. As the price movement of bitcoin gains the speed, analysts are closely investigating the ongoing correction phase within the existing speed cycle.
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Cryptoctive Analyst is Grizzly Shared Insight in the historical value behavior of bitcoin, insight, suggesting that the property could repeat the previous pattern that was before the important rallies. If they hold trends, BTC can put itself in position for a major breakout in the coming months.
BTC’s historical value pattern and market approach
According to Grizly, bitcoin is currently in its third corrective phase within the fast cycle starting in early 2023. This pattern has been observed using UTXO age band – a metric tracking that BTC remains precious in the wallet.
Similar corrective stages occurred in summer of 2023 and 2024, around six months every six months. During these periods, BTC finally experienced resistance before the new price broke at a higher level.
Grizly revealed that if this trend continues, BTC may remain in a consolidated phase for one and two to three months, ups and $ 100,000. More than $ 100,000 can mark the end of a breakout improvement and potentially push BTC to $ 130,000, as described historical data.
Cryptoctive Analyst noted:
Market participants should closely look at the structural dynamics of the premium band, as a confirmed break over resistance may indicate the next pervantic leg of the bull market of bitcoin.
Bitcoin’s path for $ 100K: What market indicators suggest
Another cryptoctive analyst, Onchainscho, has provided further insight In the possible price movement of BTC beyond $ 100,000. The analyst highlights the MVRV Z-score, a metric that tracks the evaluation of bitcoin compared to its historical fair value.
According to the analyst. The current Coldown in MVRV Z-score indicates that bitcoin may soon enter a rapidly upward trajectory, similar to the price action seen in early 2024 when BTC increased to the new $ 72,000 all-time high.
However, unlike the previous cycles, the market is moving at a fast pace, possibly influenced by the political landscape developed in the US.
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With an enhancing focus on cryptocurrency from policy makers and institutional investors, there is a possibility that BTC may break all its high levels as soon as possible as soon as possible.
Whether this acceleration will be maintained, it depends on several factors, in which the demand for the market for bitcoin continues as regulatory development, macroeconomic conditions and hedge assets.
The image created with a dull-E, chart from the tradingview
