Bitcoin’s Wild Ride: Will $98K Be the Next Stop? Find Out!

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  • Whales scoop up 43,100 BTC and exchange reserves drop—prepare for a rally!
  • Bitcoin’s triangle pattern and network surge point to a $98K breakout. Hold on tight!

Oh, look! Bitcoin’s [BTC] MVRV ratio has gone full “golden cross” mode, dancing with its 365-day SMA. Historically, that’s the kind of pattern that sends prices soaring. But, who’s counting? 😏

Meanwhile, the price is playing it cool just below the big resistance line. Bulls are out there, quietly scooping up coins like they’re on sale. As of now, BTC is at $94,650.57—down by a measly 0.18%. Not much to cry about, right?

So, here’s the million-dollar question: can these technical and on-chain signals send BTC cruising past $95.3K and straight to the $98K party? Time will tell, but we’re all waiting with bated breath.

Whales: The Quiet Architects of Bitcoin’s Next Big Move?

In the last two weeks, whales have been going all in, grabbing 43,100 BTC, pushing their stash from 3.498 million to 3.541 million. That’s nearly $4 billion in play, people! 💸

Don’t be fooled, this isn’t just some short-term fluff. This aggressive buying spells big things ahead. It’s a sign of serious long-term confidence, not just a quick buck. 🐋

Past market moves show that after these giant purchases, Bitcoin tends to have a little… shall we say, breakout. Those resistance zones? They tend to crumble.

Shrinking Reserves: A Supply Squeeze in the Making?

Now, add this to the mix: Exchange Reserves are down by 2.33% in just seven days, now sitting at 2.48 million BTC. Fewer coins, more demand… does this sound familiar?

When reserves fall and whales keep hoarding, it creates a perfect storm for a price surge. All signs point to a tightening supply. And trust me, that’s the kind of thing that could light a fire under Bitcoin’s price. 🔥

As reserves drop, the likelihood of a supply-driven breakout skyrockets. Keep your eyes peeled.

Is $95.3K the Wall Bitcoin Must Break Through?

Bitcoin’s 4-hour chart is showing an ascending triangle. No, it’s not some geometric homework problem—this is the real deal. The price keeps testing that $95.3K resistance, and guess what? The sellers are getting weaker. Bulls are pushing harder. We might be just moments away from a breakout. ⬆️

If Bitcoin manages to smash through that wall, $98K is the next stop. Simple math. And history says it’s very possible.

Network Activity: Is Bitcoin Finally Gaining Some Street Cred?

Bitcoin’s NVT ratio has dropped to 187.33, which means the network is buzzing with transactions—more action, less hype. The fundamentals? They’re getting healthier. 💪

The falling NVT ratio while prices consolidate suggests that this isn’t some vaporwave rally. Nope, this could be the real deal, driven by actual usage, not just the latest crypto Twitter buzz. 🙄

$98K is within reach.

Sure, the sentiment is a bit mixed, but the underlying signs? Bullish all the way. If bulls keep up the pressure, a breakout seems almost inevitable. And hey, who doesn’t love a good price surge? 😎

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2025-04-30 17:25