Bitcoin Shows Strong Upside Potential Despite Near Record Highs
Bitcoin (BTC) continues to demonstrate significant upside potential even as it hovers just below its all-time high reached earlier this month, according to insights from the crypto analytics platform Swissblock.
Swissblock indicates that despite Bitcoin’s current proximity to its peak, the overall risk posed by broader economic trends and global financial conditions is minimal, presenting a rare and historically bullish signal for the leading cryptocurrency.
The platform notes that the recent slight increase in Bitcoin’s value can be attributed to a lack of aggressive buying from bulls, who are waiting for increased volatility before making significant moves.
As of the latest update, Bitcoin is trading at $117,589.
According to Swissblock’s Short-Term Holder Cost Basis Model, Bitcoin could see a potential increase of around 17% from its current level before short-term holders may face losses, with a risk zone of approximately $138,000.
Despite recent altcoin outperformance, Swissblock maintains that Bitcoin’s bullish cycle is far from over, with BTC serving as a structural anchor while attention shifts to other high-impulse altcoins like Ethereum and Solana.
According to Swissblock, the cycle is not ending but evolving, indicating ongoing market dynamics and potential for further growth.
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