This Key Indicator Suggests BTC Receive ATH (Analyst)

TL;DR

• Analysts are expecting a strong rally for BTC due to bullish market signals and potential accumulation by major players.
• On the other hand, high profitability for holders may suggest a short-term price correction.

Is an explosive rally for BTC coming?

The major digital asset traded flat over the weekend in a range of $66,500 to $67,500. However, the start of a new week brought a fresh resurgence, with BTC surging well above $68,500.

Multiple analysts spot price rise and assume further exponential rise in the near future. of popular X User Mickey Bull Crypto claimed BTC experienced a “golden cross” a few hours ago. The trader pointed out that Such a development was observed that's right 1 year ago followed by large gatherings.

The so-called “golden cross” is a technical chart pattern that occurs when Bitcoin's short-term moving average (often 50 days) exceeds its long-term moving average (e.g. 200 days). this is being considered This is a bullish signal and suggests positive sentiment is brewing in the market. A “golden cross” is contrasted with a “death cross,” which indicates a period of weakness when the short-term average falls below the long-term average.

X user Ted also contributed. he maintained The overall environment is quite optimistic as 'ETFs are stacking up' and Donald Trump's victory is likely. going upand big tech companies are “talking about BTC.” He noted that despite these positive factors, there is “very little movement.”

Investors believe this is a “perfect strategy” by major companies to keep prices low and increase exposure. “one time they are finished “With that, a supply shock will begin and BTC will rise to new highs,” he predicted.

There are no BTC investors underwater

The asset's recent resurgence has more than paid off for its holders. According to To Into the Block, How 98% of all BTC investors are currently sitting on paper profits. No one is underwater, but only 2% are underwater break flat.

this While this may be good news for holders, it could also portend a short-term decline. Recall that at the beginning of the month, when BTC price was trading above $69,000, BTC's profit supply was almost 95%. However, immediately after that, Assets underwent a significant correction, briefly falling below $65,500.

A similar scenario was also observed in September and March of this year (when BTC reached the new ATH).