Bitcoin Price Action Mirrors 2019 ‘XI PUMP’, are the new BTC lows?

Bitcoin’s weekly chart was scheduled to close to $ 90,000 for the first time since November 2024, but the price has risen rapidly following US President Donald Trump’s encryption strategy reserve forces.

Although the monthly candle in February was closed at $ 84,299, the BTC (BTC) day -to -day close -up finished at $ 94,222. As the price was re -examined for $ 95,000, an analyst was careful about the repetition of the “XI Pump” in 2019.

Will the Trump pump follow the XI-pump path?

BITCOIN’s market sentiment was low during the long -term weakening period, which was extended from June to October 2019. However, on October 25, 2019, China’s announcement of blockchain technology by President XI Jinping has been significantly increased.

However, China later imposed a series of crackdowns on activities such as encryption assets and mining, causing a new lowest level within 30 days.

Anonymous encryption analysts, cold-blooded sealers, induce similarities between ‘XI-PUMP’ and the current Trump pump, suggesting that emotional rally can often be dizzy due to lack of intensity, and the market can quickly adjust to previous trends.

As can be seen in the chart, similarities between two periods have followed the transfer of the transfer of similar re -testing. In the first case, it was less than $ 10,000 in 2019 and less than $ 95,000 in 2025, and assets formed a new lowest level after 30 days. Analysts added that in 2019, traders added the pumps, “shortly acknowledged and earned a very good item.”

Similarly, the encryption merchant Magus mentioned this week that the bulls must prove themselves this week and re -accept the value area of ​​$ 103,000 (VAH) and $ 91,000.

VAH and VAL define the scope of most trading volume during the selected period on the chart since November 2024. But Magus was also kept carefully in the XI pump.

“This is a textbook swing setting to me normally, but if you have been around for a long time, I remember the XI pump. My chapter is exaggerated because of emotion.”

Related: Trump’s preliminary plans for encryption can face parliamentary votes and restrict meetings.

Bitcoin does not accumulate and remains a distribution state.

According to GlassNode’s data, despite BTC’s rally, the cost of short -term holders (STH) was initially dropped to less than $ 92,700 and fell to less than 1. The current price of Bitcoin is less than $ 92,700, which means that STHS remains in a “weak position” with profitable current in Breakeven.

In addition, the data analytics platform said Bitcoin’s accumulation trend score had longer for 58 consecutive days with less than 0.5 consecutive days.

The distribution period is defined as a profit generation stage by investors, which is often consistent with market correction. Add GlassNode,

“The accumulation and distribution stage alternately appeared in the window of 57-65 days. If the latest readings are displayed at 0.9, the trend score indicates that the large entity is still in the net distribution system and the conversion of the accumulation has not been confirmed yet. ”

Related: 85K: 5 points with 5 points this week, the largest CME gap

This article does not include investment advice or recommendation. All investment and trading measures include risks, and readers must conduct their own research when making decisions.