Bitcoin has started to recover gradually after experiencing a notable drop in recent weeks. So far, BTC has reclaimed the $90,000 level amid renewed market activity.
The cryptocurrency surged nearly 10% yesterday, briefly reaching a high of $92,756 in the early hours of today before experiencing a minor pullback. At the time of writing, Bitcoin is trading at $90,156, marking a 0.6% decrease over the past 24 hours.
Short-Term Holder Trends and Potential Market Consolidation
Yonsei Dent, a contributor to CryptoQuant’s QuickTake platform, pointed out earlier today a tightening trend in short-term holder (STH) realized price levels, suggesting a potential shift in market conditions.
The analyst noted that this development, alongside key moving averages, could indicate a period of market consolidation unless a strong demand catalyst emerges.
According to Yonsei Dent, the convergence of Short-Term Holder Realized Price levels suggests that the average entry price of recent Bitcoin buyers is becoming more uniform. Historically, such conditions have signaled either reduced volatility or a lack of clear price direction, leading to a phase of consolidation.
Additionally, Dent noted that the 60-day and 200-day moving averages are also tightening, mirroring a similar trend observed in May 2024, which resulted in a period of low volatility and minimal price movement.
A major factor influencing Bitcoin’s market outlook is regulatory developments, particularly the Trump administration’s stance on cryptocurrency policies.
Dent highlighted that the upcoming cryptocurrency summit, scheduled for tomorrow, could introduce key regulatory discussions that may influence Bitcoin’s price action. The CryptoQuant analyst wrote:
All eyes are on tomorrow’s cryptocurrency summit, where key regulatory discussions are expected. Should a bullish policy outlook emerge, it could inject fresh momentum into the market and break this tightening price structure.
Technical Indicators And Future Outlook On Bitcoin
From a technical perspective, some analysts remain optimistic about Bitcoin’s long-term trajectory. Crypto analyst Ali has pointed out that candlestick wicks on the Bitcoin weekly chart indicate strong buying pressure, suggesting that buyers are actively defending key support levels.
This observation aligns with previous market trends where similar patterns led to subsequent upward movements. Ali also referenced the Pi Cycle Top indicator, which suggests that if Bitcoin reclaims the $97,000 level, it could gain momentum for a potential move toward $150,000.
If #Bitcoin $BTC reclaims $97,000, it could gain momentum for a move toward $150,000, according to the Pi Cycle Top indicator! pic.twitter.com/yok308t4Jy
— Ali (@ali_charts) March 6, 2025
Featured image created with DALL-E, Chart from TradingView
Samuel Edyme
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
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