Bitcoin faces an uncertain price trajectory amid market volatility sparked by political events and shifting investor sentiment. Market experts suggest a potential rally may be forming.
Market analyst Daan Crypto Trades anticipates a significant price resurgence in coming weeks. The expert predicts Bitcoin could reach new all-time highs once current market turbulence subsides. This outlook depends entirely on maintaining a critical support level.
"The $90,000 mark represents a vital threshold," the analyst noted. Bulls must defend this price point for Bitcoin to gather strength necessary for breaking previous records.
Recent trading has shown considerable volatility around this pivotal level. Bitcoin currently trades below the previous range low of $90,000. It remains positioned above the daily 200 Moving Average/Exponential Moving Average.
The situation reflects extreme market indecision following recent developments. "The market is incredibly indecisive at this point after all of the news that has to be processed," Daan Crypto Trades explained. The analyst emphasized that upcoming price movements will likely establish the trend direction for weeks ahead.
A successful rebound above $90,000 would reignite bullish momentum according to the market expert. This scenario could propel Bitcoin back toward its all-time high. Such movement would align with previous consolidation patterns observed in Bitcoin's price history.
Alternative scenarios exist if support fails. A drop below $80,000 would signal significant weakness in Bitcoin's price structure. The analyst suggests this could trigger further decline toward the $74,000 level, representing a previous range high test.
The $64,000 range represents another crucial support level in the current market environment. Technical analyst Darkfost from CryptoQuant identified this price point as corresponding to the realized price for 6-to-12-month holders. Bitcoin currently approaches the realized price of the 3-to-6-month holding cohort, projected at approximately $83,000.