Bitcoin’s last clouds to $ 74,000 “healthy correction” – the analyst says the bull cycle is still continuing
The price of Bitcoin has found its way to the mark of $ 85,000, which represents a great success in recovering from the last recession of the currency about $ 74,000. According to an analyst on the series, this last correction may not be ominous as it was initially believed and could be part of a wider bull cycle.
Can the BTC price reach the highest new level ever in this course?
Analyst with Shayanbtc pseudonym, in a QuickTake Post On the Cryptoquant platform, new visions participated in the current Bitcoin market dynamics and the effects of the last price withdrawal. This evaluation depends on the maximum achieved for unproductive age ranges (UTXO), which analyzes the reservation pattern of various investor groups.
The average UTXO Age Bands scale tracks the price in which Bitcoin bought their coins compared to the period in assets. In the latest analysis of Sayantte, the relevant age teams are groups from 3 to 6 months and 6-12 months.
According to Cryptoquant data, the percentage of metal operations kept by this group of investors was steadily high. Shayanbtc indicated that this climb appears to be similar to the accumulation patterns that were observed during the lengthy correction in the summer months of 2024.
The QuickTake analyst pointed out that this style indicates the “direction of retaining”, as investors do not make 3 to 6 months and 6-12 months emptying their assets despite the continuous correction of the market. Shayanbtc added: “With more metal currencies to the hands of long -term holders, the available width is shrinking, which increases the scarcity of bitcoin,” Shayanbtc added.
Historically, these supply restrictions can be a positive incentive for strong prices, especially when combining the new demand. According to Shayanbtc, this dynamic can determine this way to discover prices and pay bitcoin price to its highest new levels ever.
Moreover, QuickTake analyst believes that with a current structure on the current series, there is a possibility that the Bitcoin market is at the beginning of the bear season. Constant clouds instead appear to be a healthy correction within a broader upward cycle.
Bitcoin price at a glance
Bitcoin appears to build some of the upscale momentum, as it briefly crosses $ 86,000 in the early hours of Sunday, April 13th. To write these lines, the BTC price is about $ 8,200, which reflects an increase of more than 2 % in the past 24 hours. According to data from Coingecko, the leading cryptocurrency has increased by about 2 % in the past seven days.
