Crypto:
29856
Bitcoin:
$67.883
% 2.08
BTC Dominance:
%52.9
% 0.21
Market Cap:
$2.53 T
% 1.90
Fear & Greed:
76 / 100
Bitcoin:
$ 67.883
BTC Dominance:
% 52.9
Market Cap:
$2.53 T

Bitcoin Enters Post-Halving Reaccumulation Zone, Analyst Claims

Bitcoin, BTC, Bitcoin Halving

Bitcoin is probably out of the dangerous post-halving “danger zone” and has entered a more stable reaccumulation phase, according to the crypto market analyst “Rekt Capital.”  Citing historical data, on May 13, X Rekt Capital pointed out that Bitcoin has probably passed the phase that is usually the most dangerous after halving events. These phases are the ones that, in the past, had considerable price adjustments.

The most recent market cycle saw Bitcoin fall 23% from its mid-March peak to $56,800 on May 1. Rekt Capital posted, “Bitcoin is happy with a good bounce from the re-accumulation range with low support,” which means the end of the danger zone.

Historical Patterns and Current Trends

In previous halvings, Bitcoin has undergone pre-halving and post-halving corrections, and this one seems not to be an exception. On the contrary, the analyst says that the worst is probably over. “If $56,000 was not the bottom, then this current pullback will have officially equaled the longest retrace in this cycle at 63 days,” he announced. However, he still thinks that history has proven that the pullback stopped at $56,000 after 47 days.

At the time of writing, Bitcoin has recovered to more than $63,000, which proves that the reaccumulation phase has already started. “Bitcoin is exhibiting the first stages of a deceleration of its sell-side momentum and is progressing in the formation of a curl against the ~$60,000 support,” Rekt Capital concluded. The key to going back to $68,000 is to keep the current level of support.

Expert Opinions on Market Movements

The Global Macro Investor founder Raoul Pal, in his May 13 article on X, clearly stated that the global liquidity cycle is the main factor that affects the markets, and he also predicted a great performance of crypto assets during the “banana zone” in the second half of the year. This period is anticipated to witness a huge rise in the prices of high-risk assets.

In the same way, the ex-CEO of BitMEX, Arthur Hayes, is expecting a period of sideways trading and accumulation before the markets start going up again this year. Hayes stressed the possible consequences of the Federal Reserve monetary policies that pump liquidity into the markets, and this liquidity may flow into cryptocurrencies.

Looking Forward

Although historical cycles are a useful tool, they do not always foretell future moves. Though the confidence of specialists like Rekt Capital and industry veterans like Pal and Hayes is a little bit cautious, they are still very optimistic about the future of Bitcoin in the next few months.

The present condition of Bitcoin proves its strength, and if it can keep the key support levels, there is a possibility of another upward movement, maybe up to $68,000. Investors and market watchers will be eagerly watching how these patterns will be key to the developing landscape of cryptocurrency trading.

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