Bitcoin: Stuck at $70,000 or Ready for a Breakout?

Institutional Crypto Research Written by Experts

Author

Markus Thielen
March 31, 2024

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👇1-12) As we expected last week, Bitcoin broke out of the triangle formation and made a decent move (+6%) higher. But with the Easter weekend approaching, Bitcoin was stuck in a tight range that will get broken this week.

👇2-12) After seven consecutive positive months, Bitcoin has matched the previous record of 2012. The bull market was then interrupted by a -10% correction the following month, only to continue for another six months with consecutive positive returns. Below, we look at some money flow indicators.

👇3-12) We will discuss how whale holdings are changing, take the pulse on some exchange holdings to assess actual crypto activity, and judge whether the probability of Bitcoin going higher in the weeks and months ahead increases or decreases.

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