Bitcoin Repeats Historic Pattern—Is a Breakout Toward $100K Next?
Bitcoin and the wider cryptocurrency market show strong recovery, Bitcoin Over $93,000 After nearly 10% growth in the past 24 hours, earlier today.
The surge after the announcement of the U.S. crypto strategic reserves are expected to include major digital assets such as BTC, ETH, SOL, SOL, XRP and ADA.
The news sparked optimism in the market, delaying Bitcoin Above $90,000. As Bitcoin’s price movement grows, analysts appear to be closely inspecting the correction phase in the current bullish cycle.
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Crypto analyst Grizzly has shared Insights into Bitcoin’s historical price behavior suggest that the asset may be repeating past patterns before a large number of gatherings. If these trends hold, BTC could position itself as a major breakthrough in the coming months.
BTC’s historical price model and market prospects
According to the Grizzlies, Bitcoin is currently in the third correction phase in the bullish cycle that began in early 2023. Using UTXO Era Band– An indicator tracks the time BTC stays still in the wallet.
In the summers of 2023 and 2024, a similar correction phase occurred for about six months. During these times, BTC experienced resistance and then finally stood out.
If this trend continues, BTC could last for two to three months during the merger phase, fluctuating between $80,000 and $100,000, Grizzly revealed. As historical data suggest, breaking through more than $100,000 could mark the end of the correction and could push BTC to $130,000.
Crypto analysts noted:
Market participants should pay close attention to the structural dynamics of senior bands, as confirmed breakthroughs beyond resistance may mark the next parabola in the Bitcoin bull market.
Bitcoin’s $100,000 Road: What Market Indicators Recommend
Another crypto analyst, Onchainschool, has provided further opinion Potential price movements entering BTC exceed $100,000. Analysts highlighted the MVRV Z-Score, which tracks Bitcoin’s valuation compared to its historical fair value.
According to analysts. The current cooler in the MVRV Z score indicates that Bitcoin may soon enter a fast upward trajectory, similar to Price action BTC soared a new all-time high of $72,000 as observed in early 2024.
However, unlike past cycles, the market seems to be moving at a faster pace, which may be affected by the growing political landscape of the United States.
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As policy makers and institutional investors focus on cryptocurrencies, BTC could undermine its possibilities Previous history It was earlier than expected.
Whether this acceleration will continue depends on a variety of factors, including regulatory developments, macroeconomic conditions, and ongoing market demand for Bitcoin as a hedge asset.
Feature images created with DALL-E, charts for TradingView
