Bitcoin has risen approximately 20% over the past month and is currently trading in the range between $78,000 and $80,000. Analyst Ali Martinez points to a bullish signal tied to the leading crypto asset returning above the Warm Supply Realized Price level – a metric that tracks the average acquisition cost of BTC over a period of one week to six months. According to the expert, the previous four instances of such a recovery preceded significant price gains: in October 2023, Bitcoin surged nearly 160%, and a year later it jumped 74%.
Other analysts have also identified positive signals on the charts. Crypto Rover has noted the formation of a "golden cross" pattern on Bitcoin's price chart, recalling that the last time this occurred it marked the end of a bear market and was followed by a 500% rally in the asset. An additional positive factor – inflows into spot exchange-traded funds tracking the largest cryptocurrency: last week they attracted nearly $1 billion, signaling growing interest from institutional investors. BlackRock's ETF under the ticker IBIT remains the leader with total net assets exceeding $64 billion, while Fidelity's FBTC product takes second place with assets of around $10.3 billion.
However, some market participants envision a different scenario. Analyst Crypto With Haris stated that "the final drop is closer than most traders think" and forecast a decline to $62,000 before the main uptrend begins. Crypto Lens holds a similar view, predicting a price collapse to $50,000 after the completion of a bear trap. Crypto Patel, for his part, noted that a rejection from the $83,000 level would leave Bitcoin's structure bearish and could lead to a drop to $50,000, but a confirmed close above that level followed by a successful retest would open the door to a rally toward the psychological mark of $100,000.