Bitcoin Trading Below $95k Signals Accumulation Opportunities According to Analysts
Bitcoin (BTC) has shown unstable performance since the beginning of the year, raising concerns among investors about its future trajectory. Despite this uncertainty, analysts highlight potential accumulation opportunities for long-term investors.
Short-Term Losses Indicate Accumulation Potential
- Current Short-Term Spent Output Profit Ratio (SOPR) is at 0.987, indicating short-term investors are selling at a loss.
- This metric suggests that current conditions may favor long-term accumulation.
- Historical patterns show that such selling behavior often precedes market recoveries.
- Broader cycle indicators indicate the correction does not signal the end of Bitcoin's upward trend.
- Long-term investors may benefit from acquiring BTC at reduced prices during this selling phase.
Bitcoin Market Performance and Outlook
- Bitcoin has decreased by 12.9% from its all-time high.
- As of now, BTC trades at $92,905, reflecting a 4% weekly drawdown.
- Technical analysis suggests potential for a rally towards $140,000, supported by a Bull Flag pattern.
