Famous analyst said that the element that will make Bitcoin explode

Bitcoin bears have been selling on every major rally for the past few months, and analysts say BTC will break this cycle once it ATHs.

“The market needs a major liquidity boost,” crypto analyst Daan Crypto Trades wrote in a June 13 post on X. “Selling on every rise has become popular lately,” the trader explained, adding that one of the best ways to end this cycle is “always an all-time high for Bitcoin.”

When can fundamental increases begin in Bitcoin?

According to the information of Cointelegraph Markets Pro, BTC noted that it was trading at $ 67,474, which is 10 percent below the all-time high of $ 73,808, which it reached on March 11.

Daan Crypto Trades said that the price can rise quickly and “does not always need a catalyst other than the price rising.” This development requires high liquidity that allows investors to purchase more BTC, resulting in a tighter bid-ask spread and rising prices.

Fortunately for Bitcoin bulls, this liquidity may arrive soon; Because MicroStrategy, the largest institutional BTC owner, announced its plan to raise $ 500 million for additional BTC purchases.

“This is a new liquidity acceleration of $500 million for you,” Daan Crypto Trades said in a June 13 post in reaction to the MicroStrategy news.

The analyst also added that increased inflows into spot Bitcoin ETFs could increase the liquidity needed to move BTC out of consolidation. Another analyst, Jelle, also shared a similar opinion, explaining that the inflow of more than $100 million into spot Bitcoin ETFs on June 12 and the possible $500 million to be transferred from MicroStrategy to BTC could provide the liquidity the market needs.

Accumulation process continues in Bitcoin

The accumulation process in BTC, which has been boring for crypto investors for a while, continues. According to well-known analyst Rekt Capital, the accumulation process that starts after the halving may last until September 2024. “This cycle will inevitably break upside over time,” the analyst said in a post on X on June 13.

“Among all the consolidations, the current consolidation is the longest,” Mags told her 79,500 X followers in a June 9 post.

In the previous cycle after the 2020 Bitcoin halving, there was a 21-day consolidation period before the Bitcoin price exploded, eventually reaching an all-time high of $69,000 in November 2021. In 2017, the consolidation period was 48 days.

Daan Crypto Trades explained that Bitcoin has not changed randomly and that “the price is still trending sideways in the range of $67,000 to $72,000 due to investors getting bored,” adding that BTC will likely “stick to sideways levels.”