In the upcoming weeks, the Bitcoin chart predicts a "decisive price move": Analyst

In the upcoming weeks, the Bitcoin chart predicts a "decisive price move": Analyst

Short-term volatility may persist, but analysts say the long-term outlook "remains positive" despite the possibility of a "decisive price move" for bitcoin in the near future.

Along with other macroeconomic factors, the US may decide on Bitcoin's next move in the upcoming weeks, which might lead to a "decisive price move." 

Given that Bitcoin's price of $96,642 has not yet completely priced in the US government's pro-crypto stance, several analysts predict that direction will probably be upward.

More precise indications regarding the price of Bitcoin in the upcoming weeks

In a recent market analysis, Bitfinex experts stated that Bitcoin may change, "particularly as more macroeconomic developments unfold."

They noted that since mid-November, when it was trading about $90,000, Bitcoin has been trading inside a 15% price range. Consolidated price ranges of 15-20% have a history of "resolving in either direction within 80-90 days."

According to them, Bitcoin's recent ability to maintain above its pre-US election price of about $70,000, despite market turbulence brought on by US President Donald Trump's imposition of tariffs on Canada, Mexico, and China, shows the asset's relative strength despite its "high correlation" with macro conditions.

The "largest liquidation event in crypto history" occurred on February 3 as a result of Trump's tariff news, with approximately $2.24 billion being removed from the cryptocurrency markets in a single day.

Bitcoin is trading at $97,370 at the time of publication

The price of bitcoin fell to $92,584 before rising to $97,370 at the time of writing, breaking below the psychological $100,000 mark. Analysts do not, however, rule out the chance that Bitcoin's price would be shaken by another near-term fright event.

"Bitcoin's long-term outlook remains positive even though its short-term volatility may persist due to macroeconomic influences," they stated.

According to other observers, Bitcoin may experience a notable spike if the US government discloses its much-awaited plans.

"The day the US government announces they are buying Bitcoin, the price will go up $50,000 in a single 1-minute candle," stated cryptocurrency analyst Thomas Fahrer in a post on X on February 5.

"If there's a case where the US government understands that it needs to become positive about the adoption of crypto, it's now," said Michaël van de Poppe, the founder of MN Capital, in an X post that same day."

While cryptocurrencies are criminally discounted, Bitcoin remains neutrally valued. According to van de Poppe, the entire industry is unjustly undervalued.

The above content is based on the article by William Suberg from Ciaran Lyons

From the above content, it can be seen that

Bitcoin’s current market positioning suggests a major price move is imminent, influenced by macroeconomic developments and potential U.S. government actions. Analysts note that Bitcoin has been consolidating within a 15% price range since November, historically a precursor to a breakout. The market's resilience despite external economic pressures, such as U.S. tariffs and liquidation events, indicates strong long-term investor confidence.

However, short-term volatility remains a concern. Some analysts speculate that if the U.S. government formally supports Bitcoin adoption, prices could surge significantly. Others argue that Bitcoin and the broader crypto sector are still undervalued, suggesting room for further growth.

The key question now is whether Bitcoin will break upward or face another correction due to macroeconomic uncertainty. While long-term sentiment remains bullish, short-term traders should be prepared for potential market swings as external factors continue to shape Bitcoin’s trajectory.

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