The Bitcoin Rainbow Chart, which was frequently used for a while, shows that the $BTC price reached 500 thousand in this bullish debate.
The leading crypto Bitcoin broke a new record during the statements regarding the Bitcoin reserve created by US President Donald Trump. The #BTC price reached an all-time high of over $ 106,500 during the night hours.
Bitcoin grows with institutional interest
Positive macro trends and blockchain growth attract attention in Bitcoin. The BTC price continues to increase with healthy growth.
According to AMBCrypto's analysis, the Bitcoin Rainbow Chart indicates a super rally of up to 400 percent in this cycle. The analysis included the following statements;
“Since November, critical indicators and market dynamics have pointed to new peaks for Bitcoin. The conditions required for BTC to remain at 500 thousand have begun to emerge.”
The developments recorded since November have enabled Bitcoin to be adopted as a financial asset. In particular, the interest of countries' reserve and retirement funds in Bitcoin was highlighted during this process.
BlackRock's iShares IBIT Bitcoin ETF (IBIT) recorded a net inflow of over $17 billion. The increase in institutional demand showed that BTC would not easily come down from its peak. Spot Bitcoin ETFs, which increased the current liquidity, bridged traditional finance and crypto.
The Bitcoin Rainbow Chart shows parabolic rallies in the “Maximum Bubble Zone” made in red. The chart in question indicates a new rally.
The analysis touched on what was said;
“If Bitcoin revisits the red zone of its flowers, this could mark a longer, more regular climb from a speculative peak explosion, consistent with an alternative supercycle thesis.”
AMBCrypto stated that the chart diverges on 2021. On that date, the BTC price began to fall from the red zone. The analysis stated that a positive divergence emerged in BTC in 2021 and that the long-standing consolidation phase was finally over.
#BTCNewATH #MarketNewHype #BitcoinKeyZone #binance
