HAS BTC SET A DOUBLE TOP ALREADY!

Bitcoin's current price action has raised concerns about a potential double top pattern, but analysis from Swissblock Technologies suggests otherwise. According to their Bitcoin Fundamental Index (BFI), Bitcoin's price strength remains intact, dismissing the risk of a double top. Here's what's happening :

Current Price: Bitcoin is trading at $105,624.20, with a 0.39% increase.

Double Top Concerns: Some analysts worry about a double top pattern forming, which could signal a bearish reversal. However, Swissblock Technologies believes that Bitcoin's on-chain strength is still intact.

BFI Insights: The BFI combines various indicators to gauge trend strength and has remained neutral since August 2024, indicating no signs of bearish divergence.

Statistical Analysis: Network economist Timothy Peterson's statistical analysis suggests that Bitcoin often makes new all-time highs within 50 days of pulling back to within 10% of its previous high. Given Bitcoin's current price, this could mean a potential surge to $115,000 or even $125,000.

Some traders are still cautious, predicting a potential downturn due to macroeconomic factors like trade wars and interest rates. Others see a bullish outlook, citing strong spot Bitcoin ETF inflows, which have surpassed $40 billion cumulatively .#MarketPullback #TrumpTariffs #BinanceAlphaAlert #BTC $BTC