Here’s When the BTC Crypto May Smash a New ATH
Bitcoin exchange reserves have been plummeting heavily and recently witnessed the largest weekly exchange outflows since mid-September. This has been suggesting strong buying activity as the BTC price has been hovering just 8% away from its highs.
On the other hand, whale accumulation has reached a historic milestone as they hold over 670K BTC, which is around 3.5% of the total supply. Moreover, the ETF inflows have also been peaking in the past few days, suggesting a monster move is incoming.
After a seven-month-long consolidation, the BTC price triggered a breakout of the accumulation zone. This move was validated in the times when the volume remained restricted within a range. Woefully, the bears began to extract their profits, restricting the rally below the 2021 highs close to $69,000. Interestingly, the price continues to hold above the crucial range, hinting towards a potential upswing in the next few days.
However, from a wider perspective, the BTC bulls are expected to reclaim their dominance and the technicals have just flipped in favour of them. In such a scenario, when will the BTC price reclaim the highs, forming a new one?
