Bitcoin Surges 13% In Week, Eyes $100K As Market Optimism Grows
Bitcoin (BTC) is showing signs of a potential major rally, according to a recent analysis by CryptoQuant. The digital asset has surged over 13% in the past week, driven by renewed optimism in the market and easing global tariff-related tensions. This momentum has contributed to a substantial increase in the total cryptocurrency market capitalization, which has risen from approximately $2.5 trillion to over $3.1 trillion.
CryptoQuant contributor Crypto Dan highlighted that BTC is currently forming an accumulation pattern similar to those observed in 2024. This pattern has historically preceded significant rallies. The analysis suggests that BTC's current movement mirrors that from January and October 2024, when the digital asset entered a significant uptrend powered by a sharp increase in the activity of short-term holders. These holders typically keep BTC for one day to one week, and their increased activity has historically been followed by strong rallies not only in BTC but also across major altcoins.
According to the analyst, this indicator has historically moved ahead of major price surges, making it a reliable signal of accumulation. If this trend continues in the short term, Bitcoin may be on track to break above $100K and enter a strong upward phase. Prominent crypto analyst Ali Martinez identified $97,530 as the next major resistance level, emphasizing that surpassing this price point could clear the path for Bitcoin to reach new all-time highs (ATH).
Ask Aime: Is Bitcoin about to rally?
Despite the growing optimism, some analysts caution that Bitcoin still faces obstacles. The 30-day Demand Momentum remains in negative territory, suggesting that recent bullish sentiment may not be fully sustainable yet. On-chain metrics reveal that a truly parabolic move could take more time. While BTC reserves on exchanges continue to decline, indicating long-term holder confidence, there may not yet be enough pressure to trigger a full-blown supply shock.
However, one positive signal is a recent sharp rebound in Bitcoin’s Apparent Demand, which could indicate the early stages of a trend reversal. As of the latest update, Bitcoin is trading at $96,370, up 1.9% over the last 24 hours. This rebound in demand, coupled with the historical accumulation pattern, suggests that Bitcoin may be poised for a significant rally in the near future.
