Analysts Explain! "Bitcoin is About to Rise Strongly! Pay Attention to These 2 Things"

The leading Electronic Money Bitcoin (BTC) has experienced a quick rebound in recent weeks after several months of a strong fall. As BTC rises above $95,000, the total market value of Electronic Money has reached nearly $3 trillion. At this time, while Bitcoin is fluctuating between $93,000 and $95,000, analysts believe that BTC is preparing for a price explosion. Analysts often predict that prolonged consolidation and negative funding rates could lead to a strong price movement for Bitcoin, while macroeconomic factors could also influence market sentiment. The data from Friday is very important. Speaking to Coindesk, FxPro analyst Alex Kuptsikevich stated that the prolonged consolidation process is good for Bitcoin and sets the stage for an upward breakout. Saying that the non-farm payroll and unemployment figures from Friday are very important for the increase, the analyst stated that a global catalyst is needed for this increase: "Long consolidation periods like this often create strength for the next upward momentum. The next major catalyst could be Friday’s labor market data. Additionally, over the past five days, the market has traded within a very narrow range and has a slight downward trend. “To explode, there needs to be global positivity. If that happens, it will pave the way for a price increase to $3.5 trillion.” Bullish signals for Bitcoin are increasing! The head of research at WOO X, Pat Zhang, also made a similar prediction, stating that the consolidation is a preparation for the price increase of Bitcoin. Zhang also stated that the funding rate in BTC has been negative over the past week and this situation is very rare and understood as a bullish signal. "BTC continues to experience volatility, forming a consolidation range between 93,000 and 95,000 dollars since April 25 and is gaining momentum for a potential breakout. “Moreover, the average funding rate for BTC has been negative over the past week, a rare phenomenon that indicates strong whale activity and the potential for price increases both on and off exchanges.” Note that in the past two years, the funding rate for Bitcoin has been negative only four times, the analyst stated that it was “September 19 - September 22, 2023, October 20 - October 27, 2023, August 16 - August 24, 2024, and September 10 - September 17, 2024” and this rate should be followed. “After these periods of negative funding rates, BTC has experienced a strong upward trend. This, supported by whale accumulation, suggests that BTC may be preparing for a potential price increase.”