In the middle of the recent market shakeouts, Bitcoin (BTC) has shown force, remaining near the crucial barrier of $ 100,000 during its decreases. Although the flagship cryptocurrency should momentarily continue its horizontal trajectory, some analysts predict that the next BTC stage could start once it would recover the recently lost key level.
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Bitcoin volatility lower than Q1 2024
The post-electoral pump saw the cryptography market jump to new peaks, the bitcoin leading the climb. Two months ago, the flagship cryptocurrency crossed the $ 100,000 barrier for the first time, reaching $ 108,000 in mid-December.
However, the market has seen several shaken Since then, which has interrupted the feeling of investors. After its peak in December, the flagship crypto recorded a 14%trace, sending its price to the lower area of ​​its post-electoral range from $ 90,000 to $ 108,000.
In early January, the BTC recorded a similar withdrawal after recovery The $ 100,000, lowering almost 13% before bouncing. In the middle of the month, Bitcoin retraced another 10% after reaching its last level of all time (ATH) of $ 109,588, but held the $ 100,000 mark in the following days.
However, the most recent correction saw the BTC fall by 14% compared to its Friday summit of $ 106,000 and almost 10% in 24 hours, triggering the largest day of cryptographic liquidations. Despite these retcesses, Bitcoin rebounded from local stockings and continues to move to the intermediate area of ​​its post-electoral beach.
Market Observer Daan Crypto Trades note This BTC volatility has been “relatively low” in recent weeks, in particular compared to the beginning of 2024.
The cryptocurrency experienced more violent oscillations when Bitcoin exceeded the region of $ 70,000 in March, traced up to 20% during these corrections. Since then, volatility has “slowly decreased” while the price of Bitcoin has “crawled this cycle”.
Bitfinex analysts previously noted the “unique” conditions of the cycle which led the tendency to decrease. According to the report, consumer recognition, institutional adoption and growing confidence in the sector have maintained lower BTC corrections than past cycles, likely to continue for the rest of the Taurus race.
Is takeoff coming soon?
While the price of BTC continues to move aside In its range, the flagship crypto seems “much stronger” than most of the market, “always perfectly well during the rear zoom”. Daan added that “the demand for BTC is so much higher compared to the rest of the market, in particular in times of uncertainty”.
However, the cryptographic analyst Miles Deutscher highlighted This BTC research interest “is still well below the 2021 levels, despite just under $ 100,000”. This suggests that the institutions feed Bitcoin Bull Run while “no longer depends on the retail manner to pump the prices of the BTC”.
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Meanwhile, the Crypto Jelle analyst declared This Bitcoin takes place in the same way as the first quarter of 2024, listing the “agitated” period, the liquidity withdrawn and the divergence of average mobile convergence (MacD) again retains the “indicators” signals.
This performance preceded the flagship escape of the crypto to its March 2024 ATH and, if history is repeated, could soon report prices takeoff. Nevertheless, Jelle added This $ 100,000 remains the level to break and keep above all major price movement.
Star image of Unsplash.com, tradingView.com graphic
