Bitcoin’s Déjà Vu: BTC Shatters $96K as Accumulation Pattern Mirrors Historic Breakouts
Another day, another ’this time it’s different’ narrative getting steamrolled by Bitcoin’s price action. The crypto king isn’t just flirting with $96K—it’s carving the same accumulation structure that preceded previous parabolic rallies.
The Wyckoff Playbook Repeats
Traders spotting the textbook ’spring’ pattern—where BTC shakes out weak hands before liftoff—are loading up while Wall Street analysts still debate whether crypto is ’legitimate.’ Spoiler: your pension fund’s buying the dip.
Institutions vs. Twitter Threads
BlackRock’s BTC ETF now holds more coins than MicroStrategy, proving once again that money talks and influencer TA gets screenshotted. The real surprise? How fast $100K went from ’absurd price prediction’ to conservative Q2 target.
As the SEC scrambles to regulate last cycle’s news, Bitcoin does what it always does—ignores the noise and follows the liquidity. Just don’t tell the guys still waiting for $20K to ’buy the bottom.’
A Glimpse Into the Past
The accumulation trend mentioned by CryptoQuant’s Crypto Dan hints back at the developments that took place in January and October last year. Back then, STHs, which were absent from the BTC market, at least until recently, went on a buying spree, which was confirmed by the growing number of active addresses.
What followed both times were rather quick price upticks for bitcoin, which soared to a new all-time high in March 2024 after the launch of the ETFs, and a new peak down the line in January 2025 ahead of Trump’s inauguration.
“Now, a similar increase in short-term holder activity is once again being observed, which could signal the beginning of another bullish phase, just like in the past.
Notably, this indicator has historically moved ahead of major price surges, making it a reliable signal of accumulation,” said the CQ analyst.
BTC Above $96K
After the April 7 and 9 lows of under $74,000, the primary cryptocurrency went on the offensive hard and exploded by over $20,000 to tap $96,000 last Friday. Its run, even though quite impressive, was stopped there, and the asset spent the following week or so in a tight range between $93,000 and $95,000.
The lower boundary was tested on a couple of occasions, including yesterday, but it managed to hold. As such, BTC bounced off and spiked above the upper one earlier today. As of now, the cryptocurrency trades close to $96,500, which is the highest price since February 23.
Aside from the STHs’ behavior, there are a few more bullish signals on the BTC front, including whale and institutional accumulation. We published another report as well about the most probable scenarios for BTC for 2025, which you can check here.
