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  • Bitcoin Enters Accumulation Phase, Escapes Post-Halving โ€œDanger Zoneโ€ ๐Ÿ“ˆ๐Ÿš€
Bitcoin Enters Accumulation Phase, Escapes Post-Halving "Danger Zone" ๐Ÿ“ˆ๐Ÿš€

Bitcoin Enters Accumulation Phase, Escapes Post-Halving โ€œDanger Zoneโ€ ๐Ÿ“ˆ๐Ÿš€

Bitcoin Enters Accumulation Phase After Exiting โ€œDanger Zoneโ€

Technical analyst Rekt Capital has indicated that Bitcoin has successfully navigated the post-halving โ€œdanger zoneโ€ and is now in an accumulation phase, with selling pressure showing signs of weakening.

  • Previous halving events led to increased volatility, resulting in what was termed the โ€œdanger zone.โ€
  • In this current cycle, Bitcoinโ€™s price dropped modestly by 6.5% over three weeks, followed by a 15% surge, signaling a strong exit from the danger zone.
  • Rekt Capital stated, โ€œThe Post-Halving Bitcoin โ€˜Danger Zoneโ€™ is officially over, and Bitcoin is celebrating with a good bounce from the Re-Accumulation Range Low support.โ€

Bitcoin Price Stability Above $60,000 Support Level

In a recent blog post, Rekt Capital emphasized the critical role of the $60,000 support level in sustaining the upward trend and potentially reaching the $68,000 mark.

  • The correction in Bitcoinโ€™s price is believed to be over, with expectations that the price will remain above $60,000 moving forward.
  • The resilience of the current support level is seen as a positive indicator for Bitcoinโ€™s trajectory amidst ongoing market fluctuations.
  • Investors are keeping a close eye on the upcoming CPI release, which could impact market sentiments and influence Bitcoinโ€™s price movements.

Factors Influencing Bitcoinโ€™s Price

Several factors are contributing to the outlook on Bitcoinโ€™s price performance:

  • Inflation concerns remain high, exceeding the Federal Reserveโ€™s target and potentially influencing interest rates.
  • Increased government debt and policy adjustments by regulatory bodies could make alternative investments like Bitcoin more attractive.
  • Expectations from industry experts like Arthur Hayes and financial institutions like Standard Chartered are shaping predictions about Bitcoinโ€™s price reaching new milestones.

Pantera Capitalโ€™s Positive Outlook on Bitcoin

Leading crypto hedge fund Pantera Capital has reiterated its bullish stance on Bitcoin, forecasting a potential surge in price up to $114,000 by August 2025.

  • Utilizing the stock-to-flow model, Pantera analyzed Bitcoinโ€™s supply dynamics and historical price trends to project future price movements.
  • Historical data has shown significant price increases post-halving events, supporting the notion of potential growth in Bitcoinโ€™s value over time.
  • Pantera Capitalโ€™s analysis suggests that Bitcoin prices typically peak around 2.6 years after halving events, aligning with the projected surge in August next year.

Hot Take: Bitcoinโ€™s Promising Trajectory Ahead

As Bitcoin shows signs of stability and resilience in the face of market challenges, experts and industry players remain optimistic about its future performance and potential for reaching new price milestones.

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Bitcoin Enters Accumulation Phase, Escapes Post-Halving "Danger Zone" ๐Ÿ“ˆ๐Ÿš€