{"id":654856,"date":"2024-11-26T05:00:15","date_gmt":"2024-11-26T05:00:15","guid":{"rendered":"https:\/\/uniquehot.com\/?p=654856"},"modified":"2024-11-25T20:19:46","modified_gmt":"2024-11-25T20:19:46","slug":"bitcoin-rally-pauses-before-100k-heres-what-could-happen-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-rally-pauses-before-100k-heres-what-could-happen-next\/","title":{"rendered":"Bitcoin Rally Pauses Before $100K\u2014Here\u2019s What Could Happen Next"},"content":{"rendered":"

Bitcoin recently came close to breaking the $100,000 price mark last week, reaching a high of $99,645 before encountering resistance. According to CryptoQuant analyst Percival, the psychological barrier of round numbers like $100,000 often serves<\/a> as a point where traders exit positions for “relative safety.”<\/p>\n

Since climbing from $73,000 to $99,800, Percival highlighted that Bitcoin has recorded a roughly 57% gain, ranking it among the ‘top six exit rallies from consolidation zones.’ Despite this, the CryptoQuant analyst suggests that Bitcoin may enter a consolidation phase.<\/p>\n

Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million \u2013 Local Top Or Continuation?<\/a><\/div>\n

BTC Faces Resistance Below $100K: What Lies Ahead?<\/h2>\n

Percival emphasized the significance of the Choppiness Index, a metric that gauges market momentum<\/a>. According to him, the index indicates that Bitcoin’s rally is losing strength weekly. This suggests the cryptocurrency could consolidate for several weeks before another rally begins.<\/p>\n

Analyzing previous market cycles, particularly in 2020, Percival noted that Bitcoin\u2019s first post-consolidation correction lasted approximately three weeks, with an 18% price drop. If history repeats, the next rally may occur in the latter half of December.<\/p>\n

The analyst also pointed to Long-Term Holder (LTH) behavior as a critical factor in understanding Bitcoin\u2019s current market dynamics<\/a>. LTHs are currently seeing 350% in profit and are in a supply distribution phase<\/a>, with approximately 575,000 Bitcoins (worth around $58 billion) re-entering the market.<\/p>\n

Despite this, demand has remained strong, driven by inflows into Bitcoin exchange-traded funds (ETFs) and purchases from institutional players like MicroStrategy.<\/p>\n

Using the STH Realized Profit and Loss metric, Percival further explored Short-Term Holder (STH) activity. He noted that short-term holders account for 30.2% of the profits recorded during this phase.<\/p>\n

Additionally, Bitcoin\u2019s Market Value to Realized Value (MVRV) ratio has exceeded 1.33\u03c3, signaling that the average token is approaching the 1.4\u03c3 zone, corresponding to 40% unrealized profits. Historically, this zone aligns with the first correction following a significant rally<\/a>, as observed in late 2020.<\/p>\n

What to Expect Next for Bitcoin<\/h2>\n

Looking ahead, Bitcoin\u2019s trajectory may depend on several factors, including the pace of its consolidation phase and the behavior of institutional and retail investors.<\/p>\n

If the current consolidation period mirrors the patterns of previous cycles, Bitcoin could stabilize before attempting another push beyond $100,000. However, short-term corrections may still occur with LTHs continuing to take profits and STHs remaining active.<\/p>\n

Related Reading: Bitcoin Attempt To Dip Below $96K \u2018Led To Nothing\u2019 \u2013 Analyst Expects $100K Soon<\/a><\/div>\n

The cryptocurrency market also sees strong demand from institutional players, as evidenced by significant ETF inflows. This suggests that, despite short-term volatility, Bitcoin\u2019s long-term outlook remains promising.<\/p>\n

When writing, BTC trades\u00a0for<\/a><\/span>\u00a0$96,353<\/a>, up slightly by 0.3% in the past day, with a current market capitalization of $1.9 trillion.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 1-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart From TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin recently came close to breaking the $100,000 price mark last week, reaching a high of $99,645 before encountering resistance. According to CryptoQuant analyst Percival, the psychological barrier of round numbers like $100,000 often serves as a point where traders exit positions for “relative safety.” Since climbing from $73,000 to $99,800, Percival highlighted that Bitcoin has recorded a roughly 57% gain, ranking it among the ‘top six exit rallies from consolidation zones.’ Despite this, the CryptoQuant analyst suggests that Bitcoin may enter a consolidation phase. Related Reading: Bitcoin Realized Profit Hits ATH At $443 Million \u2013 Local Top Or Continuation? BTC Faces Resistance Below $100K: What Lies Ahead? Percival emphasized the significance of the Choppiness Index, a metric that gauges market momentum. According to him, the index indicates that Bitcoin’s rally is losing strength weekly. This suggests the cryptocurrency could consolidate for several weeks before another rally begins. Analyzing previous market cycles, particularly in 2020, Percival noted that Bitcoin\u2019s first post-consolidation correction lasted approximately three weeks, with an 18% price drop. If history repeats, the next rally may occur in the latter half of December. The analyst also pointed to Long-Term Holder (LTH) behavior as a critical factor in understanding Bitcoin\u2019s current market dynamics. LTHs are currently seeing 350% in profit and are in a supply distribution phase, with approximately 575,000 Bitcoins (worth around $58 billion) re-entering the market. Despite this, demand has remained strong, driven by inflows into Bitcoin exchange-traded funds (ETFs) and purchases from institutional players like MicroStrategy. Using the STH Realized Profit and Loss metric, Percival further explored Short-Term Holder (STH) activity. He noted that short-term holders account for 30.2% of the profits recorded during this phase. Additionally, Bitcoin\u2019s Market Value to Realized Value (MVRV) ratio has exceeded 1.33\u03c3, signaling that the average token is approaching the 1.4\u03c3 zone, corresponding to 40% unrealized profits. Historically, this zone aligns with the first correction following a significant rally, as observed in late 2020. What to Expect Next for Bitcoin Looking ahead, Bitcoin\u2019s trajectory may depend on several factors, including the pace of its consolidation phase and the behavior of institutional and retail investors. If the current consolidation period mirrors the patterns of previous cycles, Bitcoin could stabilize before attempting another push beyond $100,000. However, short-term corrections may still occur with LTHs continuing to take profits and STHs remaining active. Related Reading: Bitcoin Attempt To Dip Below $96K \u2018Led To Nothing\u2019 \u2013 Analyst Expects $100K Soon The cryptocurrency market also sees strong demand from institutional players, as evidenced by significant ETF inflows. This suggests that, despite short-term volatility, Bitcoin\u2019s long-term outlook remains promising. When writing, BTC trades\u00a0for\u00a0$96,353, up slightly by 0.3% in the past day, with a current market capitalization of $1.9 trillion. Featured image created with DALL-E, Chart From TradingView<\/p>\n","protected":false},"author":580,"featured_media":654866,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,680,1119,78790,6664,10923,83531],"class_list":["post-654856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-analysis","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-cryptoquant"],"acf":[],"yoast_head":"\nBitcoin Rally Pauses Before $100K\u2014Here\u2019s What Could Happen Next<\/title>\n<meta name=\"description\" content=\"Bitcoin recently came close to breaking the $100,000 price mark last week, reaching a high of $99,645 before encountering resistance...\" \/>\n<meta name=\"robots\" content=\"index, follow, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Rally Pauses Before $100K\u2014Here\u2019s What Could Happen Next","url":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-rally-pauses-before-100k-heres-what-could-happen-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/bitcoin-news\/bitcoin-rally-pauses-before-100k-heres-what-could-happen-next\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-25-17.10.38-A-digital-illustration-depicting-Bitcoins-price-rally-pausing-just-before-reaching-100000-with-a-symbolic-Bitcoin-coin-prominently-displayed-in-th.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-25-17.10.38-A-digital-illustration-depicting-Bitcoins-price-rally-pausing-just-before-reaching-100000-with-a-symbolic-Bitcoin-coin-prominently-displayed-in-th.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin market","bitcoin price analysis","btc","btcusdt","crypto","crypto market","cryptoquant"],"dateCreated":"2024-11-26T05:00:15Z","datePublished":"2024-11-26T05:00:15Z","dateModified":"2024-11-26T05:00:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Rally Pauses Before $100K\\u2014Here\\u2019s What Could Happen Next\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-rally-pauses-before-100k-heres-what-could-happen-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/bitcoin-news\\\/bitcoin-rally-pauses-before-100k-heres-what-could-happen-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-25-17.10.38-A-digital-illustration-depicting-Bitcoins-price-rally-pausing-just-before-reaching-100000-with-a-symbolic-Bitcoin-coin-prominently-displayed-in-th.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/DALL\\u00b7E-2024-11-25-17.10.38-A-digital-illustration-depicting-Bitcoins-price-rally-pausing-just-before-reaching-100000-with-a-symbolic-Bitcoin-coin-prominently-displayed-in-th.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin market\",\"bitcoin price analysis\",\"btc\",\"btcusdt\",\"crypto\",\"crypto market\",\"cryptoquant\"],\"dateCreated\":\"2024-11-26T05:00:15Z\",\"datePublished\":\"2024-11-26T05:00:15Z\",\"dateModified\":\"2024-11-26T05:00:15Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/11\/DALL\u00b7E-2024-11-25-17.10.38-A-digital-illustration-depicting-Bitcoins-price-rally-pausing-just-before-reaching-100000-with-a-symbolic-Bitcoin-coin-prominently-displayed-in-th.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=654856"}],"version-history":[{"count":3,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654856\/revisions"}],"predecessor-version":[{"id":654870,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/654856\/revisions\/654870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/654866"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=654856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=654856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=654856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}