Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin is not in line to cancel its attack on all-time highs, says the Bitcoin Fundamental Index (BFI).
\nBTC price strength remains \u201cintact,\u201d says Swissblock Technologies, removing the risk of a double top.
\nHistorically, a return to within 10% of all-time highs delivers price discovery almost every time.<\/p>\n
Bitcoin (BTC) does not risk a \u201cdouble top\u201d bull market reversal with its trip past $107,000, new analysis says.
\nIn one of its latest X updates, private wealth manager Swissblock Technologies described BTC price strength as \u201cintact.\u201d<\/p>\n
BTC price indicator ignores double top \u201cnoise\u201d Source: Cointelegraph.com NewsKey points: Bitcoin is not in line to cancel its attack on all-time highs, says the Bitcoin Fundamental Index (BFI). BTC price strength remains \u201cintact,\u201d says Swissblock Technologies,… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129604"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129604"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129604\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBitcoin shows \u201cno signs of bearish divergence,\u201d as seen through the lens of a basket of network indicators.
\nCommenting on the latest signals from its Bitcoin Fundamental Index (BFI), Swissblock argues that despite being less than $5,000 from all-time highs, BTC\/USD is not about to abandon its push into price discovery.
\n\u201cA lot of noise about a potential double top as $BTC struggles to break ATH,\u201d it summarized.
\nBFI combines various extant indicators into a single oscillator to provide insight into trend strength at a given price point.
\nSince August 2024, BFI has stuck rigidly to its middle territory around the 50\/100 mark, irrespective of price action.
\n\u201cEven during the Feb\u2013Mar pullback, it held neutral, never dipped into weakness,\u201d the post notes.
\nSwissblock explained that if BTC\/USD were to reverse now and head lower, leaving all-time highs untouched, BFI would already be \u201cbreaking down.\u201d
\n\u201cOn-chain strength is intact,\u201d it concludes.\u00a0
\n\u201cBears: not this time, got to wait.\u201d
\nBitcoin Fundamental Index (BFI). Source: Swissblock Technologies\/XStats favor Bitcoin bulls
\nThat perspective chimes with that of the majority of popular crypto market participants this month.
\nRelated: $107K fakeout or new all-time highs? 5 things to know in Bitcoin this week
\nAs Cointelegraph continues to report, price discovery is expected to reenter sooner rather than later, with one BTC price target for this week already at $116,000.
\nOn that topic, network economist Timothy Peterson used statistical analysis to assume a trip to at least $115,000 by the end of June.
\n\u201cBitcoin has pulled to within 10% of its all-time high,\u201d part of his own X post from May 9 reads.\u00a0
\n\u201cWhat happens next? This has happened nearly 300 times since 2015. Within 50 days, Bitcoin made a new all-time high 98% of the time.\u201d
\nPeterson acknowledged that post-2020 gains have been more modest than those before, with an average 8% move giving BTC\/USD a target of up to $125,000.
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"