BTC Surges Above $96K as Bitcoin Exhibits Crucial Accumulation Pattern”
Despite historical price movements not guaranteeing future outcomes, Bitcoin’s recent behavior offers compelling insights, particularly with short-term holders (STHs) showing notable activity. According to CryptoQuant’s latest analysis, STHs, who typically hold assets for one week or less, have been steadily increasing in recent weeks—mirroring the patterns seen ahead of significant rallies in 2024.
This rising trend in short-term holder activity recalls previous price surges in January and October of last year, both of which saw Bitcoin reach new all-time highs shortly thereafter. With BTC now surpassing $96K, and the accumulation structure strengthening, the market could be primed for another bullish phase.
Crypto analysts suggest that the current accumulation pattern, led by STHs, signals that Bitcoin might be poised for a fresh rally, similar to what happened in the past. Along with this, whale and institutional buying activity further strengthens the case for a continued BTC price surge.
