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Bitcoin markets could possibly be in for an additional extended interval of consolidation if there isn’t extra shopping for stress this week, says analyst Willy Woo.
The power of Bitcoin’s (BTC) run from $75,000 on April 7 to its all-time excessive slightly below $112,000 on Might 22 “is beginning to break down,” Woo wrote to X on Might 28.
“This week is completely important,” he stated. “If we don’t get follow-through, then we will probably be up for an additional consolidation interval.”
Woo stated that within the quick time period, “late comer speculators” are taking lengthy positions whereas potential revenue taking “is able to dump” as seen within the Bitcoin Spent Output Revenue Ratio (SOPR), which is a measure of the value paid divided by the value offered.
“This week’s spot shopping for will strongly affect the subsequent 1-2 months of worth motion. We’re in a pivot zone.”
On the optimistic facet, he stated the danger sign is trending downward, explaining that “buy-side liquidity is dominating” within the broader atmosphere. “We’re establishing for an additional strong run on the lengthy time-frame,” he stated.
Associated: Bitcoin price will reach $130K or even $1.5M, top bulls say
This week’s rebound in US client sentiment could assist increase market threat urge for food within the quick time period, Bitunix analysts stated in a be aware shared with Cointelegraph.
“We have to be alert to the technical stress zone and the danger of a possible pullback,” they stated, including Bitcoin’s short-term stress is round $110,800, the place a lot of the previous rebounds have stopped, and which is the core of the struggle between the bulls and the bears.
“Help at $108,000 is the primary lengthy protection zone over the previous two days. If it breaks down, it could set off profit-taking stress and switch into a brief bias construction.”
Large Bitcoin worth predictions
In the meantime, President Donald Trump’s eldest sons, Donald Jr. and Eric, each suppose Bitcoin might clear $170,000 by the top of 2026, in line with their predictions on stage on the Bitcoin 2025 convention in Las Vegas, on Might 28.
Bitcoin pioneer Adam Again had a good bolder prediction that BTC was going to $1 million in 5 years.
ADAM BACK JUST SAID #BITCOIN IS GOING TO $1 MILLION IN 5 YEARS 🚀 pic.twitter.com/BA3ToeW3Mg
— The Bitcoin Convention (@TheBitcoinConf) May 28, 2025
Bitcoin was buying and selling at $107,785 on Coinbase on the time of writing, according to Tradingview.
It has slid 1.2% over the previous 24 hours and failed to achieve extra momentum above $108,000 in early buying and selling on Might 29.
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