Bitcoin violated a new record of all time during the weekend, which prompted analysts to call for a renewed accumulation phase which could feed a rally at $ 150,000 before the end of the year.
Bitcoin (BTC) Define a new All time above $ 125,700and its market capitalization has briefly crossed the milestone of $ 2.5 billion for the first time In the history of cryptographyCointelegraph reported on Sunday earlier.
The rally was supported by several macroeconomic factors, including the recent closure of the United States government – the first since 2018 – which, according to some analysts, has renewed the interest in the role of the value of the Bitcoin value.
In the past, similar conditions have led to “major price stages”, according to Fabian Dori, director of investments for digital asset banking group Sygnum Bank.
The closure of the American government has “renewed a discussion on the role of the value of the Bitcoin value, as political dysfunction highlights the interest in decentralized assets,” Dori told Cointelegraph. “At the same time, the wider environment-characterized by bulk liquidity conditions, an acceleration led by the service in the economic cycle and a narrowing of the underperformances compared to actions and gold-has drawn attention to digital assets,” he added.
However, the extent of the government’s rear wind effect on the cryptography market will ultimately depend on how it influences the point of view of the American federal reserve on interest rate decisions, Jake Kennis, main research analyst in Nansen, told Cintelelegraph.
“Cryptographic markets could benefit from a stop resolution if it reduces uncertainty and pushes the Fed to a more dominant position,” added Kennis.
While some analysts have seen the government stop as a signal of a potential Crypto Market BottomKennis said he was “prematurely to call this as a background of the local market”, because confirmation would require “stability of several weeks above key support levels”.
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Bitcoin between a new accumulation phase
Some analysts consider Bitcoin’s recent growth as a sign of a new phase of accumulation by large entities, because onchain data suggest a drop in the sales pressure of whales.
“Market data indicates that current prices’ action can be linked to an accumulation phase,” said Dori de Sygnym Bank.
“The sales pressure of long -term holders seems to be ensuring, while short -term investors show signs of stabilization after a period of loss made.”
The periods of “speculative activity of cooling and more stable positioning” have historically preceded significant rallies of Bitcoin, he added.
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Meanwhile, Bitcoin’s open interest “suddenly resets” after the expiration of last week’s options, which could “prepare the ground” for the fourth quarter, according to to the Blockchain Glassnode data platform.
The slowdown in speculative activity can draw more attention to Bitcoin, strengthening the forecasts of analysts of a $ 150,000 escape In the fourth quarter of 2025, if BTC can maintain its momentum above the psychological level of $ 120,000, Charles Edwards told Cintelegraph in Token2049.
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