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Bitcoin’s Ongoing Accumulation: Setting the Stage for $130K in 2025?
Bitcoin has once again entered a crucial phase of accumulation, which could potentially propel its price to an astonishing $130K by the first quarter of 2025.
Following a series of corrections that pushed its value below $94K, buying pressure began to rise, indicating a higher likelihood of the coin’s price experiencing another significant surge.
The recent analysis predicts that Bitcoin will touch $130K in Q1 2025. This could be attributed to the cryptocurrency entering an accumulation phase, which is historically followed by major price upticks.
Bitcoin has recently been consolidating and entering this critical phase, where investors are showing increasing interest in buying the king coin. According to CryptoQuant’s data, net deposits on exchanges have decreased compared to the last seven days’ average, serving as a clear indication of rising buying pressure. Miners, too, were following a similar trend, with their activity suggesting fewer holdings being sold.
The possibility of a price decline is high, given certain indicators that are flashing red signals. It’s important to note that investors are currently in the belief phase, where they are holding onto unrealized profits. Moreover, the total number of coins transferred has decreased by -37.70% compared to the previous day, which could have an adverse impact on the token’s price.
In this context, technical indicators like MACD were indicating a bearish upper hand in the market, suggesting that prices may continue to fall. However, there is still hope for Bitcoin’s price as it approaches the lower limit of the Bollinger Bands, which often results in a bullish trend reversal.
Disclaimer: AMBCrypto’s content should not be viewed as investment advice. Trading, buying or selling cryptocurrencies should be considered high-risk investments and every reader is advised to do their own research before making any decisions.
Source: ambcrypto.com
