Bitcoin has rebounded 28% from its February lows, trading within a steady ascending channel. Market liquidity is improving as stablecoin inflows return to exchanges. While upside potential exists, analysts warn the current trend is not yet a true bull run, with momentum remaining capped.
Bitcoin (BTC) has begun increasing in value again following a controlled period without abrupt fluctuations. The price has risen by over 28% since dropping below $60,000 in February.
The current trading activity is occurring within an ascending price channel. This pattern has seen 8% to 10% increases after each dip to support from early April onward.
BTC is currently trading in a support range between approximately $76,800 and $77,500. If the pattern holds, the price could push toward $82,700, the channel’s upper boundary.
Experienced trader Peter Brandt described the pattern as a real channel showing gradual rise rather than explosive increase. He stated that BTC needs a strong momentum break through resistance for a true bull market.
Market liquidity has improved as nearly $6 billion in stablecoins has flowed into exchanges in recent weeks. This provides potential buying power and supports the existing structure.
On-chain data shows Bitcoin has reclaimed a critical MVRV threshold at approximately $72,750. Historical cycles using this indicator suggest recovery could lead to a potential peak of $94,500.
Analyst Willy Woo noted the next test for BTC is cleanly breaking the cost basis of recent investors around $79,000. He gave it 30% odds on this attempt.
Experts caution that Bitcoin is likely establishing a base rather than experiencing a sudden upward movement. The market advance is controlled within an ongoing pattern and has not yet reached a breakout stage.
