Bitcoin’s Steady Accumulation Could Propel It to New Heights, Analyst Predicts

Bitcoin's recent price movements and network activity have sparked growing interest, especially as analyst Willy Woo highlights a notable increase in capital inflows.

Woo suggests that Bitcoin’s steady trading pattern is signaling the creation of an accumulation zone, where Bitcoin is gradually being accumulated by stronger hands. This phase of quiet accumulation, if supported by continued inflows, could set the stage for a potential all-time high.

The growing demand, reflected in the capital inflow metric, indicates a shift toward greater investor interest in Bitcoin.

This influx could be the driving force that helps Bitcoin break through resistance levels and achieve new highs. Bitcoin’s bullish momentum remains intact, as seen in the price chart, which continues to form higher highs and lower lows.

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Key support levels around $98,000 and $92,000 are providing a solid foundation, while the breakout from the long-term downtrend at $100,000 has further confirmed the upward trend.

The 50-day and 100-day moving averages also strengthen the positive outlook. Looking ahead, the $110,000 psychological level could be pivotal for pushing Bitcoin even higher, potentially serving as a launching pad for further gains.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.