Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000
Bitcoin is approaching a major accumulation zone, with a pattern similar to past bear markets, according to Aralez. The view is that BTC could bottom near $40,000 between now and early next year before starting a new bull run that could eventually reach about $250,000 by 2029. Short term, Bitcoin has weakened after falling below $71,000 and testing the $70,000 area. The decline was linked to Strategy’s sale of 32 BTC and worsening geopolitical conditions after Iran suspended peace talks with the U.S. Technical signals also turned bearish: BTC broke a four-month ascending channel and lost key support near $73,000. Expected near-term price action includes a liquidity sweep around $70,000, a possible bounce toward $74,000, and then lower targets around $65,000, $60,000, and $58,000. The broader trend is still seen as pointing to new local lows rather than a move back above $83,000.
