Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SUBMIT
Crypto Flexs
Home»TRADING NEWS»Bitcoin (BTC) long-term bullish outlook remains unchanged
TRADING NEWS

Bitcoin (BTC) long-term bullish outlook remains unchanged

By Crypto FlexsMay 2, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin (BTC) long-term bullish outlook remains unchanged
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) price has seen a significant decline over the past three days, which has pushed BTC below $58,000. Many people think this is the beginning of a bear market, but it is simply a cooling off period.

The medium- to long-term outlook for digital assets remains optimistic, and Bitcoin looks set to validate this in the coming weeks.

Bitcoin investors are still focused on HODLing.

Bitcoin price has fallen significantly over the past 48 hours after being flat for the past few weeks. The decline in the cryptocurrency market shocked investors, with nearly $600 million lost in two days.

However, looking at BTC on-chain indicators, it appears that this decline was expected and was just a brief pause in the long-term rally. Coin Days Destroyed (CDD) for 90 days shows that long-term holders (LTHs) are heavily anticipating further increases in the price of Bitcoin.

The lower recorded CDD levels mean that investors are likely to be less motivated to accumulate or spend their holdings as Bitcoin prices fall. This strengthens optimism about the recovery and confirms that the recent correction is just a market cooling and not the start of a bear market.

Read more: Bitcoin Halving History: Everything you need to know

Bitcoin 90-day coin retirement date. Source: Glassnode

What further proves this is the Market Value to Realized Value (MVRV) ratio. The MVRV ratio measures profit or loss for an investor. With Bitcoin’s 90-day MVRV at -9.5%, implying a loss, investors are likely to hold off on selling or move towards accumulating BTC.

Historically, recoveries occur within a range of -8% to -21% MVRV, which often precedes rallies. Therefore, these zones are called accumulation opportunity zones.

If BTC holders act accordingly, the Bitcoin price could recover soon.

Bitcoin 90-day MVRV rate.
Bitcoin 90-day MVRV rate. Source: Santiment

BTC Price Prediction: Bullish Flag Continues

Bitcoin price trading at $57,444 is reeling from a downtrend that has dragged BTC below $60,000. However, the digital asset is still above the lower trend line of the flag where BTC has been moving for the past two months.

The flag pattern is characterized by a sharp price movement followed by a period of consolidation in the shape of a rectangular flag. A breakout of the flag pattern indicates a continuation of the uptrend.

The Bitcoin price target based on the pattern remains at $92,505, which would represent a 45% increase above the breakout point. However, a more practical goal would be a rally above $73,700 to push BTC to new all-time highs.

Read more: What happened at the last Bitcoin halving? Forecast for 2024

Bitcoin price analysis.
Bitcoin price analysis. Source: TradingView

For this to happen, Bitcoin price would first need to break the $68,500 barrier, turning the $71,800 resistance into a support bottom.

However, as BTC holders move to offset losses and sell their holdings, the cryptocurrency may cross the lower trend line. This would cause the Bitcoin price to fall below $52,000, effectively invalidating the bullish outlook.

disclaimer

In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Australia provides clarity on cryptocurrency regulation with new guidelines

October 29, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

Why Elon Musk’s SpaceX transferred $133 million in Bitcoin

October 27, 2025
Add A Comment

Comments are closed.

Recent Posts

Injective (INJ) Completes First Community Buyback Worth $32 Million

October 29, 2025

Whale.io Confirms First Airdrop For Crock Dentist NFT Holders

October 29, 2025

BTC And XRP Prices Fluctuate Dramatically. WOAHash Helps Holders Earn $9,900 In Daily Returns.

October 29, 2025

Acre Launches V2 Platform, Enabling Bitcoin Holders To Earn 14% APY (est.) From Self-Custody

October 29, 2025

BitcoinOS $BOS Token Is Live On Binance Alpha And Top Tier CEX Listings, Advancing Institutional BTCFi

October 29, 2025

MEXC Maintains Strong Financial Stability With Over 100% Proof Of Reserve Across Major Assets

October 29, 2025

Australia provides clarity on cryptocurrency regulation with new guidelines

October 29, 2025

Stake USDT To Earn BTC With Up To 600% APR

October 28, 2025

Coinbase Acquires Echo, Leading On-Chain Capital Raising Platform in $375 Million Deal

October 28, 2025

US Bitcoin reports holdings of 3,865 BTC after recent acquisition

October 27, 2025

Swiss Bitcoin App Relai Acquires MiCA License In France

October 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Injective (INJ) Completes First Community Buyback Worth $32 Million

October 29, 2025

Whale.io Confirms First Airdrop For Crock Dentist NFT Holders

October 29, 2025

BTC And XRP Prices Fluctuate Dramatically. WOAHash Helps Holders Earn $9,900 In Daily Returns.

October 29, 2025
Most Popular

FET, TAO, Nvidia Q2 Earnings Release Reaction: What’s Next for These AI Tokens?

August 29, 2024

Ethereum and altcoins are preparing for an explosive move following the December 2020 ETH mirroring. Structure: Jason Pizzino

December 24, 2024

Top Cryptocurrency Earners Today January 6 – Memecoin, Bitcoin SV, Synthetix, Stellar

January 6, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.