Bitcoin [BTC]: On paradigm shifts and the possibility of $100k

BTC showed similar signs that helped it reach its last ATH. Upward pressure increased as long-term holders decreased supply on exchanges. Historically, the aftermath of every Bitcoin [BTC] halving lays the grounds for the resurgence of a bull cycle. The last time such a thing occurred, the king coin rose up and hit an ATH […]

, one reason for the unprecedented performance was the cryptocurrency’s divorce from correlating with NASDAQ.usually observed pre-halving was already in motion. This could make it easy for BTC to reach $100,000 post-halving.

An accumulation cycle denoted the level of buying or demand for an asset. Distribution, on the other hand, shows the level of supply or selling of an asset. Hence, the accumulation/distribution zone could be used to spot tops, bottoms, and trend reversals.. This metric represents the percentage of fees acquired from the block reward. Prior to the BTC ATH, the fees to reward ratio hit 0.21 pre-halving.

But since the 350-day MA crossed the 111-day , it signifies that BTC has not yet hit its peak. This could prove advantageous to those accumulating Bitcoin.that Short Term Holders were selling at the time of publication.Also, Long Term Holders may have bought the dip since the exchange supply was decreasing. This could later translate into upward pressure on prices, as demand also increases.

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