CryptoQuant Quicktake
--
Bitcoin Forming an Accumulation Structure Similar to Past Rallies
Bitcoin's current movement appears to be forming a pattern similar to the early and late 2024 pre-rally structures.
Looking at past cases,
in January and October 2024, right before Bitcoin entered a significant uptrend,
there was a sharp increase in the activity of short-term holders (1 day to 1 week).
This was followed by strong price rallies not only in Bitcoin but also across major altcoins.
Now, a similar increase in short-term holder activity is once again being observed,
which could signal the beginning of another bullish phase, just like in the past.
Notably, this indicator has historically moved ahead of major price surges,
making it a reliable signal of accumulation.
If this trend continues in the short term,
Bitcoin may be on track to break above $100K and enter a strong upward phase.
Written by Crypto Dan
Looking at past cases,
in January and October 2024, right before Bitcoin entered a significant uptrend,
there was a sharp increase in the activity of short-term holders (1 day to 1 week).
This was followed by strong price rallies not only in Bitcoin but also across major altcoins.
Now, a similar increase in short-term holder activity is once again being observed,
which could signal the beginning of another bullish phase, just like in the past.
Notably, this indicator has historically moved ahead of major price surges,
making it a reliable signal of accumulation.
If this trend continues in the short term,
Bitcoin may be on track to break above $100K and enter a strong upward phase.
Written by Crypto Dan
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
