Recent analysis suggests that Bitcoin might be on the verge of a breakout as accumulation continues. Major investors are increasing their holdings, while mid-term holders refraining from selling could trigger a large rally in the coming months.
Big Players Accumulating Bitcoin
According to Crypto Faibik, Bitcoin is in a strong accumulation phase, with big investors increasing their holdings. Current price action indicates the end of a correction phase, with Bitcoin forming an ascending triangle in a descending channel.
Mid-Term Holders Show Record-Low Selling
Data from Glassnode indicates that Bitcoin holders in the 3m-6m range are showing record-low selling activity, confirming strong confidence among investors. Historically, such low activity has preceded major price rallies.
Analysis of Bitcoin Market Future
Analysts highlight the significance of the resistance level near $28,500. Breaking through this level might push Bitcoin toward an upside target of $109,000, as historical data shows low selling activity often precedes major rallies.
Bitcoin's price action signals a potential breakout, driven by major investor accumulation and reduced selling by mid-term holders. This sets positive expectations for the market's future.
