28-4-2025 – Bitcoin has maintained its position above $90,000 for nearly a week, demonstrating an impressive 11.41% surge over seven days. Market watchers are increasingly optimistic about the cryptocurrency’s trajectory.
Fresh data from Santiment reveals substantial market activity, with traders snapping up 20,000 BTC—valued at $1.86 billion—within a 48-hour window. This significant accumulation suggests robust market confidence and could fuel further price appreciation.
Technical indicators paint an intriguing picture. The Short-term Holder (STH) Cost Basis, a crucial metric for gauging market direction, shows Bitcoin hovering at $93,145, with analysts keeping keen eyes on this pivotal threshold. The metric operates within a defined range, bracketed by $131,800 at its peak and $71,150 at its base.
A fascinating pattern has emerged, according to Alphractal’s research. Their analysis reveals Bitcoin is mirroring a cyclical behaviour observed since 2015, currently positioning itself in what traders term the ‘markup phase’—a period traditionally characterised by sustained price appreciation following accumulation.
Looking ahead, market specialists have pinpointed mid-October, specifically between the 12th and 16th, as a potential inflection point. This timeline aligns with historical four-year cycles, suggesting Bitcoin might reach the upper STH cost basis band of $131,800 before entering a projected cooling period.
Monthly charts reveal an encouraging technical setup, with Bitcoin finding support along an ascending trendline that has proven reliable since 2018. Market participants are particularly focused on the $102,000 threshold, viewing it as a crucial level that, if surpassed, could catalyse fresh record highs.
The recurring nature of this pattern, coupled with its historical tendency to recover after temporary breaches, adds weight to the bullish outlook. However, sustained momentum remains crucial for Bitcoin to maintain its upward trajectory and realise these projected gains.
