Famous analyst revealed the factor that will trigger an explosion in Bitcoin

Bitcoin bears have been selling at every major rally for the past few months, and analysts say that breaking this cycle will come with BTC reaching its all-time high (ATH).

Cryptocurrency analyst Daan Crypto Trades, in a post dated June 13th on X, wrote, “The market needs a significant increase in liquidity.” The trader explained, “Selling into every rally has become popular lately,” and said that one of the best ways to end this cycle is “the all-time high for Bitcoin is always the best.”

When can the main rallies start in Bitcoin?

According to the data from Cointelegraph Markets Pro, BTC traded at $67,474, which is 10% below its all-time high of $73,808 reached on March 11th.

Daan Crypto Trades said that the price could rise rapidly and that it doesn't always need a catalyst for the price to go up. This development requires high liquidity, which allows investors to buy more BTC, leading to a tighter buy-sell margin and rising prices.

Fortunately, this liquidity may soon come for Bitcoin bulls; as the largest institutional BTC holder, MicroStrategy, has announced plans to raise $500 million for additional BTC purchases.

Daan Crypto Trades, in a post dated June 13th, in response to the MicroStrategy news, said, "This is a new liquidity momentum of 500 million dollars for you."

The analyst also added that increasing inflows into spot Bitcoin ETFs could increase the liquidity needed to take BTC out of consolidation. Another analyst, Jelle, shared a similar view, stating that more than $100 million inflows into spot Bitcoin ETFs on June 12 and the potential transfer of more than $500 million from MicroStrategy to BTC could provide the market with the necessary liquidity.

The accumulation process continues in Bitcoin.

The accumulation process in BTC, which has been frustrating crypto investors for a while, continues. According to popular analyst Rekt Capital, the accumulation process that started after the halving may continue until September 2024. The analyst said the following in a post about X on June 13: "This cycle will inevitably break upwards over time."

Mags said in a post dated June 9th to his 79,500 X followers, 'This is the longest consolidation among all current consolidations'.

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

Daan Crypto Trades stated that Bitcoin has not shown any changes and that the price is still moving horizontally in the range of 67,000 to 72,000 dollars due to investors getting bored, and added that BTC will likely remain faithful to the horizontal levels.

This article does not contain investment advice or recommendation. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.