Key Insights on Bitcoin’s Recent Performance

• Bitcoin is gaining support at around $108,200, a 10% increase from its recent low of $98,400.

• The Bull Pennant pattern on Bitcoin’s daily chart suggests a potential rise of 54% to reach $165,000.

• Exchange flow has hit a decade low, indicating that investors are holding onto their assets for the long term.

Bitcoin prices climbed to a weekly high of $108,200 on June 25, showing a notable 10% increase since they dipped to $98,400 just a few days prior. It seems like BTC is finding its footing and is currently consolidating beneath its all-time high of $112,000.

Could Bitcoin surpass 50% in the upcoming days?

Bitcoin’s Bull Pennant Signals Potential Growth

Between April 8 and May 22, Bitcoin surged by 52%, hitting a record high of $112,000. Since then, it has oscillated between this peak and $100,000. The latest bounce back from a six-week low suggests that bullish momentum is working to protect this level.

“Bitcoin has reclaimed its crucial support zone,” noted crypto analyst Jere in a post on June 25, emphasizing that BTC has reverted to the pennant on the daily chart.

Bull pennants are continuation patterns that typically follow a substantial price increase, leading into a stabilization phase at elevated prices.

Above $110K, the potential moves could be quite significant.

A breakout from the pennant pattern could lead to a price target of about $165,200, signaling a 54% rise from the current values.

However, it’s worth mentioning that bullish pennants often have a success rate of only around 54%, which doesn’t make them the most reliable patterns out there.

Analyst Merlijn The Trader is also optimistic, forecasting a possible BTC price of $140,000 based on a reversed head and shoulders pattern.

He stated, “Nothing can stop BTC from flying over $112K toward $140,000 and beyond.”

Some forecasts, however, become even bolder, predicting figures between $200,000 and $250,000, especially considering rising US debt and tax cuts from President Trump.

Bitcoin Exchange Flow Hits Historic Low

Although Bitcoin is currently trading near its all-time high with profits exceeding 96%, the demand for trading among users is diminishing.

Data from Onchain Analytics Platform Data Cryptoquant indicates that the average daily exchange flows hit a 10-year low on June 25.

“The average daily flow for centralized exchanges (both inflow and outflow) is down to 40,000 BTC, marking its lowest point in a decade,” stated Bitcoin researcher Axel Adler Jr.

A significant portion of BTC has left exchanges, signaling integration and possible liquidity issues.

A reduced inflow signifies that investors are transferring BTC into personal wallets, which reflects a growing confidence in Bitcoin as a long-term investment.

As per reports, the overall Bitcoin balance on exchanges is at its lowest in seven years, resting at 2.92 million BTC as of June 25—a level not seen since June 2019, according to GlassNode data.

With fewer Bitcoins available on exchanges, this reduction may lead to liquidity shortages and, potentially, price increases in the future.

This article does not offer investment advice or endorsements. Every investment and trading action carries risks, and readers should conduct their own research before making decisions.