TLDR
- Bitcoin is consolidated in the range $ 82,000-84,000 after a 22% correction from its highest period
- Technical analysis shows bitcoin that forms a cup-and-handle pattern with a potential target of $ 130,000- $ 139,000
- Strategy (formerly Micro Strategy) just bought another 130 BTC, giving their total to almost 500,000 BTC
- Analysts see the current downturn as a temporary “shaking” rather than the end of Bitcoin’s 4-year bicycle
- Data on the chain indicates strong accumulation of long -term holders despite price fluctuations
Bitcoin has traded within a narrow range between $ 82,000 and $ 84,000 in recent days, after a 22% correction from its maximum period of $ 108,786 reached in January 2025.
However, technical analysis suggests that Bitcoin may form a cup-and-handle pattern. This pattern has been developed for several years, with the rounded bottom phase ranging from 2021 to the middle of 2024.
The Copper-and-Handle pattern completed its handle phase in November 2024. This led to an impressive rally which resulted in Bitcoin reaching its new highest time in January 2025.
The latest correction of 24% has given Bitcoin’s award back to the neckline resistance for copper-and-handle formation. This neckline is expected to serve as support for the current price measure.
Elliott Wave analysis presents an even more hooked case. Bitcoin is currently in a larger fifth impulse wave formation, which is usually hooked even though it is interrupted by corrective ABC sub-waves.
According to this technical frameworkBitcoin can target price levels above $ 130,000. Some forecasts set the specific target to approximately $ 139,000.
Despite these haus -like technical indicators, Bitcoin’s basic factors show some uncertainty in the short term. There is currently a lack of speed required to challenge the $ 90,000 mark.
Stade institutional outflows from Spot Bitcoin ETFs have increased sales pressure. This has limited Bitcoin’s ability to regain strength in the immediate term.
Michael Saylor’s strategy (formerly Micro Strategy) continues its Bitcoin accumulation strategy. The company recently bought another 130 BTC for $ 10.7 million.
This latest acquisition provides the strategy’s total holding to 499 226 BTC. This is worth about $ 33.1 billion at current prices.
Strategy is still the largest company’s bitcoin holder in the world. The company has consistently acquired Bitcoin even during declines in the market.
Their average purchase price above all holdings is $ 66 360 per BTC. This shows their long -term confidence in Bitcoin’s value proposals.
Market analysis
Market analysts look at the current decline differently than typical bear markets. Many describe it as a temporary “shaking” rather than at the end of Bitcoin’s 4-year bicycle.
Bitfinex -analyst notes that “corrections in bull cycles are normal.” They suggest that this can be a shaking rather than the beginning of a long -term bear market.
Despite fear of a disturbed bull market, Bitcoin’s four -year bicycle remains and the latest event event decisive for price measures. 2024 Bitcoin halving, which occurred on April 20, reduced the network’s block reward to 3,125 BTC per block.
Bitcoin’s The price is up over 31% since the last halving. This event was considered to be the “most hausse” set for Bitcoin price, partly due to growing institutional interest.
Data on the chain shows strong holders’ resistance and continued accumulation. More bitcoin held for longer periods, with short -term holders who convert to long -term holders.
Cryptoquant analysts illustrate that “this trend illuminates a hoding behavior.” Investors refrain from selling despite the current market correction.
Historically, this type of resilience among Bitcoin holders has played a crucial role in forming the market floor. It often turns on new performances.
While some analysts predict that Bitcoin can reach as high as $ 600,000, Coincosex’s algorithm offers a more moderate forecast. This suggests that BTC will surpass $ 175,000 by the end of 2025.
At the time of writing, Bitcoin is traded at about $ 83,500. The next few weeks will be crucial to decide whether the support holds and the predicted rally is materialized.
For those who track Bitcoin’s price measure, it will be crucial to keep an eye of $ 72,000 $ 73,000 support area. Wider market factors, including Global Treasury return and stock trends, are likely to affect Bitcoin the next major move.
