Bitcoin ( BTC ) possesses more upside potential even as it sits just below the record high reached mid this month, according to crypto analytics platform Swissblock. The analytics platform says that while Bitcoin is hovering close to the all-time high, the risk posed to the crypto king by the broader economic trends and global financial conditions remains low. Swissblock says the low macro risk is a “rare and historically bullish” signal for the flagship crypto asset. According to Swissblock, the reason Bitcoin has enjoyed only a slight uptick over the last couple of days is due to the fact that “bulls are not bidding aggressively.” “They’re waiting for volatility.” Source: Swissblock/X Bitcoin is trading at $117,589 at time of writing. The analytics platform says that Bitcoin could appreciate by around 17% from the current level before the short-term holders of the crypto king find themselves underwater based on the Short-Term Holder Cost Basis Model. “Short-Term Holders are active but not overheated. Profit-taking is present, but the Short-Term Holder risk zone (approximately $138,000) hasn’t been reached. This suggests there’s still room for expansion before we see any panic selling or euphoria.” Source: Swissblock/X According to Swissblock, the bullish cycle for Bitcoin has not ended despite altcoins outperforming over the short term. “BTC is acting as the structural anchor, not the explosive leader. The bid is rotating into Ethereum, Solana, and high-impulse altcoins. BTC holds. Altcoins move. The cycle isn’t ending. It’s evolving.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bitcoin Flashing Rare and Historically Bullish Signal, According to Analytics Firm – Here’s the Outlook appeared first on The Daily Hodl .
Analyst: They Crashed XRP on Purpose
