Bitcoin is once again approaching a critical node, with its upward momentum not yet exhausted, and a breakout imminent?
Today's core PCE data is about to be released, and the crypto market is in a consolidation phase. Notable signals: large transaction volume surged by 77.7%, daily active addresses increased by 28.9%, while net inflow to exchanges significantly dropped by 126%.
Meanwhile, Bitcoin ETF saw a net inflow of $591 million, with prices firmly maintained around $95,000, indicating that funds still favor BTC. More importantly, the MVRV-Z indicator provides strong support, historically a key cyclical signal—this current bull market phase is far from over, and a breakout is on the way.
Highlights: BTC is approaching the apex of an ascending triangle, a classic bullish continuation pattern. Recent consolidation may indicate an explosive upward movement—after the breakout, it is bound to challenge new highs again.
Additionally, there are movements in emerging markets: Arizona legislation has approved the conversion of treasury bonds into Bitcoin, and cross-border payment competition in Brazil is intensifying, with Mastercard stepping in to acquire Corpay for $300 million.
The current 'bull market' atmosphere may be calm, but the potential is enormous.
