Bitcoin Holds Steady Near $84K as Analysts Foresee Potential 2025 Surge Similar to Previous Bull Run

Despite Bitcoin’s current consolidation around the $84,000 mark, market analysts are drawing parallels between the present market conditions and the setup preceding last year’s significant price breakout. Technical indicators suggest that BTC may be forming a similar base pattern to the one that preceded its previous all-time high (ATH) rally. Seasoned traders are monitoring key support levels and on-chain metrics, with some speculating that 2025 could witness another substantial upward movement. The cryptocurrency’s recent stability at this psychological resistance level has sparked debates among institutional investors about whether this represents accumulation before another leg up or distribution before a correction.

Speculation Eases, Setting the Stage for Potential Recovery

In Dan’s recent QuickTake post titled “Cryptocurrency Market, Similar to the 2024 Correction Period,” Dan assessed the speculative dynamics of the market through the lens of short-term holder activity. His analysis suggests that the recent cooling-off period might mirror patterns observed during last year’s correction phase.

According to Dan, one reliable gauge of market overheating is the percentage of Bitcoin supply held for one week to one month. When this metric rises, it often signals speculative enthusiasm, which can precede corrections.

During previous bullish phases, such increases in short-term holdings were followed by pullbacks, marking peaks in investor exuberance.

In the current cycle, Dan notes that this metric has once again reached a region previously associated with market bottoms—the same yellow box (on the chart shared) that aligned with the 2024 correction low.

Based on this, he posits that speculative excesses have largely subsided, opening the door to renewed price growth if macroeconomic conditions continue to improve. However, he also emphasized that further consolidation may still occur before a broader trend shift materializes.

Crypto Market, Similar to the 2024 Correction

“Given that this ratio has now reached the yellow-box region, which was the bottom of the 2024 correction period, it seems likely that the current market will follow a similar path as the 2024 correction.” – By @DanCoinInvestor pic.twitter.com/YGNZxQnUXj

— CryptoQuant.com (@cryptoquant_com) April 18, 2025

Bitcoin Whale Activity Suggests Imminent Volatility

Complementing this analysis, CryptoQuant contributor Mignolet pointed out a notable shift in coin movement behavior. In a separate post, he observed that around 170,000 BTC recently moved from the 3–6 month holding cohort.

This group typically includes mid-term holders, and substantial activity from them has historically preceded increased price volatility.

Mignolet illustrated his findings with data, noting that such movements have often signaled major price action, both upward and downward. Green box indicators on his chart marked rallies, while red boxes highlighted periods of decline.

While the direction remains uncertain, he highlighted that the increased activity is an early warning sign that traders should be alert for a breakout or breakdown in the NEAR future.

Featured image created with DALL-E, Chart from TradingView