Bitcoin's Re-accumulation Phase: Next Rally Imminent

Bitcoin's price has been consolidating below $100,000 since early February, with a slowdown in bullish sentiment and a waning euphoria surrounding the crypto-positive influences of the new US administration. Despite this, technical analysis continues to support a bullish long-term outlook for Bitcoin, with the current stagnation appearing to be a re-accumulation phase for bullish investors.

According to a technical analyst on the TradingView platform, Bitcoin is currently exhibiting an interesting accumulation trend alongside the USDT dominance. The USDT dominance reflects the percentage of the total crypto market capitalization in USDT, indicating whether traders favor stablecoins over riskier crypto assets. A high USDT dominance typically signals low buying pressure in cryptocurrencies, while a declining USDT dominance often suggests that traders are rotating funds back into Bitcoin and other cryptocurrencies.

Interestingly, the USDT dominance has had a crucial simultaneous occurrence with Bitcoin's preparations for rallies this cycle. Two notable re-accumulation periods have occurred after Bitcoin bottomed in November 2022, with each leading to significant price rallies. The first accumulation period spanned from January 2023 to March 2023, while the second occurred between November 2023 and February 2024. Both of these re-accumulation phases took place at the 0.5 Fibonacci extension level from an earlier accumulation phase. Additionally, these phases shared common characteristics, including a peaking 1-day RSI structure in the USDT dominance chart and a pullback in the Dollar Index (DXY).

Now, Bitcoin appears to be mirroring the same conditions again, with USDT dominance and the DXY pulling back with the current re-accumulation phase, which has been playing out since December 2024. If the pattern continues to unfold as expected, this could indicate that Bitcoin is on the verge of its next major rally.

If Bitcoin follows the pattern observed in previous rallies this cycle with the USDT dominance to the core, the re-accumulation phase could end within the next one or two weeks and eventually cause another rally to new all-time highs. The analyst noted a potential $150,000 target for the Bitcoin price, at least before another major correction and a subsequent accumulation phase. However, Bitcoin must overcome key resistance levels, particularly the psychological $1