Bitcoin Shows Accumulation Pattern Indicating Potential Major Rally

Bitcoin (BTC) is showing potential for a significant price movement, currently exhibiting an accumulation pattern that aligns with previous bullish trends observed in 2024. Key points include:

BTC surged over 13% in the past week amidst easing global tariff tensions.
Total cryptocurrency market capitalization increased from $2.5 trillion to over $3.1 trillion.
Short-term holder activity has historically preceded major rallies; BTC may approach $100K if this trend continues.
Next major resistance level identified at $97,530, which could facilitate new all-time highs.

However, concerns remain:

30-day Demand Momentum is still negative, indicating possible sustainability issues of recent bullish sentiment.
On-chain metrics suggest insufficient pressure for a full supply shock despite declining BTC reserves on exchanges.
A rebound in Bitcoin's Apparent Demand might indicate early signs of a trend reversal.

As of now, Bitcoin trades at $96,370, reflecting a 1.9% increase over the last 24 hours.