Bitcoin Experiencing Potential Upturn in Value According to Data Analysis Firm - Insights Regarding Future Performance
In the ever-evolving world of cryptocurrencies, the latest analysis from Swissblock, a renowned crypto analytics firm, suggests that Bitcoin (BTC) is currently in a consolidation phase. This follows a failed breakout attempt above the $118,000–$120,000 range, with the digital currency trading at $114,747 at the time of writing, marking a 3% decrease on the day.
Swissblock characterizes the current environment as neutral fundamentals with improving liquidity and fading selling pressure, which typically supports sideways price movement. The firm emphasizes that Bitcoin fundamentals remain "strong and stable," but network growth is cooling. This combination tends to favor range-bound consolidation instead of sustained directional moves, implying Bitcoin is "preparing for breakout—but momentum needs to align" before a convincing upward move occurs.
Once momentum flips positive again, Swissblock anticipates a strong upward surge that could also ignite altcoin rallies, especially in Ethereum and selected altcoins. In previous commentary from late July, Swissblock pointed to on-chain metrics showing room for price expansion before reaching "risk zones" that trigger panic selling, with short-term holders' cost basis analysis suggesting Bitcoin could revisit and exceed prior all-time highs, potentially reaching $138,000.
Meanwhile, the selling pressure is visible but not extreme, resembling cooling rather than capitulation. This is significant because 96% of Bitcoin's supply is in profit, creating a double-edged sword as strong holders remain but unrealized gains tempt sellers.
In other cryptocurrency news, Pepe Dollar (PEPD) presale is picking up pace, and Memecoin 'SATOSHI' has launched its first presale. Additionally, PulseChain adoption is rising as Ethereum projects migrate to its faster, cheaper blockchain.
Elsewhere, the crypto landscape is not devoid of controversy. A bank insider was recently reported to have drained $195,000 from churches, kids museum, and customers, faking their own death to prevent recovery of incriminating evidence. US lawmakers have also hit JPMorgan Chase CEO Jamie Dimon and Bank of America Boss Brian Moynihan with subpoenas over their role in a Tesla supplier's IPO.
It's important to note that Swissblock's prediction is not investment advice and investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency. Meanwhile, the White House Digital Asset Policy Report has featured Plume, and Falcon Finance has USDf listed on VOOI's Omnichain Perps and RWA Exchange. Hamieverse has tapped Abstract to power its debut blockchain game and purpose-driven ecosystem. Naoris Protocol has launched a $120,000 post-quantum bug bounty, and Ancient Bitcoin (BTC) is springing to life, signaling potential sell-side pressure.
In conclusion, while Bitcoin is currently consolidating, Swissblock's analysis suggests that the market is preparing for a potential breakout. Until then, sideways price movement can be expected, and the next decisive move could be forceful and positive.
The prediction from Swissblock implies that if Bitcoin succeeds in aligning positive momentum, it could spark a strong upward surge, potentially igniting altcoin rallies, especially in Ethereum and selected altcoins. Meanwhile, the blockchain landscape is not just about technological advancements, as controversies such as bank insider fraud and regulatory investigations persist.
