Bitcoin is showing some serious strength, and many believe a huge price jump is on the horizon. Could we be heading towards a new all-time high? Let’s dive in.
A Bullish Outlook
The crypto world is buzzing with excitement. One expert, Micro2Macr0, predicts Bitcoin’s next big move could be imminent. He sees a potential rally to a new all-time high, pointing to key support levels and indicators suggesting a breakout. This optimistic forecast comes even as some predict a market correction, suggesting a quick rebound is possible.
Bitcoin has already bounced back, nearing the crucial $100,000 mark. If it can hold steady around $99,000-$100,000 for the next few days, Micro2Macr0 believes a surge to $145,000 is likely. He thinks this could happen within the next few months, or at most, a quarter. Investors are watching closely, hoping to capitalize on this potential rally.
Short-Term Holders Cashing Out
While the overall outlook is bullish, there’s a twist. Short-term Bitcoin holders (STHs) are selling off their holdings at a rapid pace, according to macro researcher Axel Adler Jr. This is likely profit-taking after Bitcoin’s recent price surge.
This selling pressure could cause a temporary price dip. However, Adler points out that selling at a loss during a bull market isn’t ideal, so selling pressure might ease if the price drops. This could lead to stabilization around the $90,000 support level.
Importantly, long-term holders remain confident and aren’t selling, suggesting strong belief in Bitcoin’s long-term potential.
