Bitcoin (BTC) Price Coils Within a Range as Analyst Predicts New All-Time Highs Will Come in 2026

Bitcoin has been trading within a narrow range for over 200 days. During this time, altcoins have also remained at similar price levels, leading to a sense of stagnation in the market.

Bitcoin has been trading within a narrow range for over 200 days, and during this time, altcoins have also remained at similar price levels, leading to a sense of stagnation in the market. However, according to analyst Michael Van De Poppe, while the market may currently appear dull, he anticipates that changes are on the horizon.

Throughout history, the longer an asset stays within a range, the more significant the potential breakout can be. The analyst highlights historical examples, such as the range Bitcoin traded in from April to October 2020 (between $8,000 and $12,000) before breaking out into a bull market. Similarly, in 2015-2016, Bitcoin consolidated for an extended period before experiencing a major upward movement.

In terms of the current price action, Bitcoin is showing lower and lower highs, which could indicate a potential downtrend. However, there are signs of a reversal, as recent movements suggest the formation of a higher high and possibly a higher low. If this trend continues, the analyst predicts that Bitcoin could reach levels of around $90,000 in the next few weeks.

While Bitcoin has reached new all-time highs, altcoins have not performed as well and are lagging significantly. The total market cap for altcoins is still about 50% below its all-time high. The analyst noted that if the total altcoin market cap manages to break above $660 billion, it could trigger a substantial rally across the market.

Finally, the analyst considers the four-year cycle in the context of the current market dynamics and notes that it may not strictly follow the traditional pattern. Liquidity plays a crucial role, and increased liquidity in the market, particularly through the U.S. dollar, could lead to significant price increases for Bitcoin.

Recent charts suggest we are entering the final year of the current bull cycle, with significant price peaks typically occurring in late November or early December. The analyst drew parallels to past cycles, predicting that we could see a peak of $300,000 to $400,000 for Bitcoin by 2026, depending on liquidity conditions.

The above is the detailed content of Bitcoin (BTC) Price Coils Within a Range as Analyst Predicts New All-Time Highs Will Come in 2026. For more information, please follow other related articles on the PHP Chinese website!