Onchain analysis indicates a resurgence in Bitcoin accumulation, potentially propelling its price above $150,000 before 2025 concludes, as noted by market experts.
Bitcoin (BTC) recently established an all-time record exceeding $125,700, along with a market cap that exceeded $2.5 trillion for the first time in the history of cryptocurrency, as highlighted by Cointelegraph on Sunday.
This upward movement is attributed to various macroeconomic conditions, including the US government’s recent shutdown—the first in five years—which some analysts speculate has rekindled interest in Bitcoin as a store of value.
Historically, similar scenarios have facilitated major price advances, according to Fabian Dori, chief investment officer of Sygnum Bank.
Dori remarked, “The US government shutdown has revitalized conversations regarding Bitcoin’s role as a store of value, particularly as political instability increases interest in decentralized assets.” He also mentioned that current circumstances, marked by loose liquidity, a service-driven acceleration in business activities, and a narrowed gap in performance compared to equities and gold, have spotlighted digital assets.
BTC/USD, year-to-date chart. Source: Cointelegraph/TradingView
Nonetheless, the actual impact of the government closure on cryptocurrency markets hinges on its influence on the US Federal Reserve’s interest rate policies, according to Jake Kennis, senior research analyst at Nansen.
Kennis stated, “If a resolution of the government shutdown diminishes uncertainty, it could prompt the Fed to adopt a more favorable stance.”
While some analysts considered the shutdown a potential indicator of a crypto market bottom, Kennis deemed it “premature to label this a local bottom,” stressing that confirmation requires stable support levels over multiple weeks.
Bitcoin Enters New Accumulation Phase
Recent trends suggest that Bitcoin’s growth signals a new accumulation phase led by large investors, based on onchain metrics revealing a reduction in selling pressures from major holders.
“Current market indicators imply that the price fluctuations may be tied to an accumulation phase,” disclosed Dori.
“Selling pressure from long-term holders seems to be decreasing, while short-term investors are stabilizing after facing realized losses.”
Historical data associates periods of increased purchasing activity and stabilization with significant Bitcoin price surges.
In addition, Bitcoin’s open interest saw a sharp reset after recent options expiration, potentially setting a foundation for the fourth quarter as outlined by blockchain analytics firm Glassnode.
Source: Glassnode
With dwindling speculatory activities, Bitcoin might draw heightened attention, reinforcing predictions of a potential breakout to $150,000 in late 2025, provided the price maintains momentum above the psychological barrier of $120,000, as indicated by analyst Charles Edwards at Token2049.
Magazine: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds
