Bitcoin’s Potential Trajectories: Bullish, Consolidation, or Bear After $97K Breakout
The post Bitcoin’s Potential Trajectories: Bullish, Consolidation, or Bear After $97K Breakout appeared on BitcoinEthereumNews.com.
Bitcoin has decisively broken the $97,000 barrier, sparking fresh discussions around its potential future trajectories: bullish, bearish, or stagnant. This distinct shift in momentum presents a pivotal moment for Bitcoin investors, underlining the importance of market sentiment. According to notable crypto analyst Axel Adler, the analysis reveals critical patterns that could shape Bitcoin’s immediate price action. Explore the implications of Bitcoin’s recent $97K breakout and discover three potential paths for its market trajectory in our latest analysis. Three Scenarios That Could Shape Bitcoin’s Next Rally Building on Bitcoin’s momentum ratio, renowned crypto analyst Axel Adler highlighted three key scenarios for BTC’s next move after breaking the critical $97k overhead supply barrier. This analytical framework is crucial for investors seeking to navigate the volatile landscape of cryptocurrency. At press time, BTC’s on-chain momentum sits in the “start” rally zone, with the momentum ratio at approximately 0.8 (80%). This indicates an optimistic positioning, however, the market’s direction will hinge on the ratio’s behavior in the coming weeks. Source: CryptoQuant If the momentum ratio breaks above 1.0 and maintains that level, key metrics like NUPL and MVRV would signal a fresh upward impulse, potentially propelling Bitcoin’s price into the $150k–$175k range. Conversely, if the momentum ratio drops to 0.75 or lower, short-term holders (STHs) may start liquidating their positions, leading to a possible correction to the $70k–$85k range. In the third scenario, if the ratio stabilizes within the 0.8-1.0 band, BTC is likely to trade within a broad range of $90k to $110k. This could lead to an environment where market participants maintain their holdings, but without significant new investment. BTC’s Most Likely Next Move In a bullish outlook, if Bitcoin’s momentum ratio escalates beyond 1.0 and sustains this level, we could anticipate a rally towards the $150k–$175k range, mirroring previous macro cycles.…
