Technical Analysis Suggests Path to $90,000 in Near Term
The post Technical Analysis Suggests Path to $90,000 in Near Term appeared on BitcoinEthereumNews.com.
TLDR Bitcoin recently achieved its best weekly performance in over two months, climbing 4.24% to $88,804 Analyst Axel Adler Jr. predicts Bitcoin could reach $130,000 within 90 days, based on onchain metrics A major Bitcoin whale purchased 2,400 BTC worth $200 million on March 24, 2025 Another whale that had been inactive since 2017 moved 3,000 BTC valued at $250 million BlackRock has acquired 4,054 BTC in seven days, growing their position to approximately 574,000 BTC worth over $50 billion Bitcoin has recently shown strong market performance, climbing 4.24% to reach an intra-day high of $88,804. This marks Bitcoin’s best weekly performance in over two months. The cryptocurrency has reclaimed a bullish stance on the charts, closing above the daily chart’s 200-day exponential moving average. With a weekly close above $84,600, experts suggest that Bitcoin has an increased likelihood of testing the $90,000 mark soon. However, BTC must first overcome the descending resistance level to make a sustainable move at the range highs. Bitcoin researcher Axel Adler Jr. views the current price action as healthy consolidation rather than the beginning of a bear market. According to Adler’s analysis of onchain metrics, Bitcoin has not yet entered “overheated” territory in this cycle, as indicated by BTC’s Investor Price Model. This particular model has flashed sell signals twice during 2021. It incorporates several key metrics: the realized cap, thermo cap, investor price, and Bitcoin supply. Adler further supports his bullish outlook using Bitcoin’s cumulative value days destroyed (CVDD) metric. This tool monitors selling activity among long-term holders. In the current bull cycle (2024-2025), it has triggered a sell signal just once, back in March 2024. Based on his analysis, Adler predicts that Bitcoin could climb to $130,000 within 90 days. He notes that we might see “seasoned investors taking profits once Bitcoin…
Filed under: News - @ March 25, 2025 6:29 pm