Bitcoin Poised For Growth? Analyst Says ‘One More Flush’ Could Set Stage For Surge

Cryptocurrency analyst James Van Straten shared his optimistic perspective on Bitcoin’s (CRYPTO: BTC) ongoing market consolidation on Saturday, describing it as “bullish.”

What Happened: In an X post, Van Straten noted that, unlike the choppy period of 2024, Bitcoin’s price has consistently stayed above the Short-Term Holder Realized Price in the current cycle.

As the name suggests, the Short-Term Holder Realized Price is the average price at which short-term investors have purchased their Bitcoin. Historically, when Bitcoin’s price is above this level, it indicates a bullish market, as “weak hands,” known to have a low-risk tolerance, are in profit.

“Not all consolidations are the same. I’ve been beating the drum on how bullish this consolidation has been,” the analyst stated. “Investors are waiting and not chasing the price but I think impatience …

Full story available on Benzinga.com