$BTC $BTC

BTC sideways repeat – Accumulation for a big breakout?

Bitcoin today continues to fluctuate around the 94,000 USD mark, repeating a price range that has remained almost unchanged for the past week. This is a sign that the market is in a tight accumulation phase, as supply and demand forces are temporarily balanced.

The sideways movement after a previous price increase is often a 'momentum-building' step for the market to prepare for a strong breakout – either upward or downward. However, with favorable macroeconomic conditions such as expectations for a new ETF, tax policies from the U.S., and stable institutional capital flows, the likelihood of a breakout in the upward direction is supported by many analysts.

Additionally, the current market sentiment remains at a moderately optimistic state, neither too FOMO nor pessimistic, which is an ideal condition for BTC to establish a new price level if it can surpass the resistance around 95k-96k.

If BTC maintains this price range for a few more days, we may very well witness a sudden surge in May.