Bitcoin violated a new all-time high over the weekend, motivating analysts to call for a modified accumulation stage that could pump a rally to $ 150,000 before the end of the year.
Bitcoin (Btc) set a new All times high at $ 125,700And its market capitalization briefly crossed the $ 2.5 trillion milestone to the first time In the history of cryptoCointelegraph reported earlier on Sunday.
The rally has been supported by many macroeconomic factors, including the recent shutdown of the United States government-the first since 2018-that some analysts have been renewing interest in Bitcoin’s store-of-value role.
Previously, similar conditions have led to “major price milestones,” according to Fabian Dori, chief investment official in the Digital Asset Banking Group Sygnum Bank.
The US government’s shutdown is “renewed discussion around the paper with the value of the Bitcoin store, as political disfunction emphasizes interest in decentralized property,” Dori told Cointelegraph. “At the same time, the broader environment-characterized by loose liquidity conditions, a speeding-up-led business cycle service, and narrow underperformance related to equality and gold-has drawn attention to digital properties,” he added.
However, the extent of the government’s tail impact on the government’s crypto market is finally depending on how it influences the US Federal Reserve’s perspective on interest rate decisions, Jake Kennis, senior research analyst in Nansen, said Cointelegraph.
“Crypto markets can benefit from a shutdown resolution if it reduces uncertainty and pushes the fed into a darker bearing,” Kennis added.
While some analysts have seen the government’s shutdown as a signal of a potential Bottom in the crypto marketKennis said “early on to call it a local market market,” because confirmation will require “multi-week stability above support levels.”
Related: The Bitcoin ETFS Kickstart ‘Uptober’ with $ 3.2B in the second best week on Record
Bitcoin enters the new stage of accumulation
Some analysts have viewed Bitcoin’s recent growth as a sign of a new phase of accumulation of large entities, as onchain data suggests a collapse in sale of pressure from whales.
“Market data suggests the current price action can be attributed to an accumulation stage,” Dori said of the Sygnym Bank.
“The sale of pressure from long-term holders appears easing, while short-term investors show signs of stabilization after a period of realized losses.”
Times of “cooling activity of speculation and steadier position” has historically preceded the significant Bitcoin rallies, he added.
Related: Crypto businessman turns $ 3K to $ 2m after sending CZ post of Memecoin Soaring
Meanwhile, Bitcoin’s open interest is “I -Reset hard” after expiry of last week’s options, which can “set the stage” for the fourth quarter, According to To blockchain the glass platform platform.
Slowing the imaginary activity can attract more attention to Bitcoin, strengthening analyst predictions of a Breakout at $ 150,000 In the fourth quarter of 2025 if the BTC could maintain its momentum above the key $ 120,000 psychological level, Charles Edwards told Cointelegraph in token2049.
https://www.youtube.com/watch?v=-cpjxnan8S4
Magazine: The bitcoin to see ‘another big thrust’ up to $ 150k, eth pressure constitutes
