Strong And Short Bitcoin (BTC) Rebound Coming Soon?
In the midst of an unfavorable macroeconomic scenario, the market is desperate for a Bitcoin rebound. In the recent weeks, the Bitcoin (BTC) price movement and trading activity has been quite stagnant. After falling from the $22,000 range last month, BTC continued to fluctuate around the $19,000 figure. Overall, a prolonged sideways movement in BTC price pattern meant huge anticipation for a rally at least in the short term.
The sluggish BTC movement comes at a time when there is a global financial instability. For close to four months now, the market marred with several setbacks has been experiencing a crypto winter situation. The downfall started earlier this year when the Terra collapse led to a crypto freefall. Since mid-June, the BTC price has fluctuated around the $20,000 mark with occasional exceptions.
On Chain Data Signals At Bitcoin Rebound?
Meanwhile, on chain data shows that the current environment is in a short term liquidity phase. According to data from Crypto Quant, the market is building up for a long and strong bull market. There are some spikes in the volume of Bitcoin in daily and weekly range. Sharp rise in this indictor could be an sign of the beginning of the bull market. This can be seen as a build-up for a long and strong bull market.
“Even during a bear market, this indicator sometimes rises, in which case Bitcoin rebound or at least go sideways.”
Short Term Rally Incoming?
Since March this year, there were four examples of the short term rebounds. There is a high possibility of at least a short term rebound if this indicator rise strongly. Meanwhile, last week saw a steady drop in BTC price from the range of above $20,000. As of writing, BTC price stands at $19,076, up 0.09% in the last 24 hours, according to price tracking platform CoinMarketCap.
In this context, experts believe a Bitcoin bull market is still not in the horizon. Florian Grummes, the managing director at Midas Touch Consulting, feels the current crypto market cycle is still about a year away. This is based on historical pattern of a crypto winter typically lasting for about 24 to 27 months.
- Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH
- Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000
- Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?
- White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC
- Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role
- Analyst Eyes Key Support Retest Before a Rebound for Ethereum Price Amid $93M ETF Outflows and BlackRock Dump
- Bitcoin Price Eyes $120K Ahead of FED’s 98.3% Likelihood to Cut Rates
- PEPE Coin Price Prediction as Weekly Outflows Hit $17M – Is Rebound Ahead?
- HBAR Price Targets 50% Jump as Hedera Unleashes Massive Staking Move
- Chainlink Price Outlook: Analyst Predicts $100 as Reserve Adds 63K LINK
- SUI Price Prediction as TVL and Monthly DEX Volume Hit All-Time Highs- What’s Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
