According to analysis using Glassnode's Investor Tool, historical price trends indicate that Bitcoin could rise to $211,000 during this bull cycle. The analysis focuses on two critical moving averages, with the 1130 DMA x5 representing the upper boundary where Bitcoin's price peaks in bull runs. In the past, Bitcoin has consistently touched or surpassed this red line before retracting. The current price of Bitcoin is $106,159, with the 1130 DMA x5 at $210,932, suggesting that $211,000 could be a potential high for this cycle. Bitcoin's price action between these two levels has historically signaled accumulation phases followed by rapid price increases. The $211,000 target is seen as realistic by many analysts and aligns with the 3.618 Fibonacci retracement, adding further technical support. However, external factors such as macroeconomic changes and regulatory decisions can still affect Bitcoin's performance. Traders are closely monitoring these moving averages to identify entry or exit points.



Other News from Today