$BTC The market dynamics between 2021 and today are completely different," Jeff Anderson, head of Asia at STS Digital, told CoinDesk. "BTC is evolving into a treasury asset, so it is very difficult to extrapolate chart patterns onto an asset undergoing massive structural changes."

The price action over the weekend was "encouraging," Anderson said, noting bitcoin's stability at around $105,000 even as Iran and Israel traded blows. As the old saying goes: If a market does not fall too much on bad news, it indicates big players are probably going long.