According to a CryptoQuant Quicktake post, Bitcoin (BTC) is forming an accumulation pattern similar to those seen in January and October 2024, hinting at a potential surge. This pattern has historically preceded major price rallies. Bitcoin has surged over 13% in the past week, signaling renewed optimism. The total cryptocurrency market capitalization has increased from approximately $2.5 trillion on April 8 to over $3.1 trillion. CryptoQuant contributor analysis indicates that BTC's current movement mirrors patterns from earlier in 2024, where sharp increases in short-term holder activity powered significant uptrends. Analyst Ali Martinez identified $97,530 as the next major resistance level. Surpassing this could pave the way for Bitcoin to reach new all-time highs. As of today, Bitcoin is trading at $96,370, up 1.9% over the last 24 hours.
Bitcoin's Accumulation Pattern Hints at Potential Surge Towards $100k
Edited by: Yuliya Shumai
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