From $70,000 to $175,000: On-Chain Analyst Outlines Potential Bitcoin Price Scenarios

The first cryptocurrency is «warming up» and is already on the verge of entering a «rally zone.» This opinion was expressed by Axel Adler-Junior, an author at CryptoQuant.

Given the dynamics and current value of the Bitcoin Composite Index 2.0 (approximately 0.8), the expert outlined three potential scenarios for Bitcoin’s price movement.

Optimistic (Bullish) Scenario: This scenario suggests a breakout above the 1.0 level of the indicator and a sustained presence above it.

Baseline Scenario (Consolidation): This scenario assumes that the index stays within the 0.8-1 range. In this case, the digital currency will trade within a broad corridor, between $90,000 and $110,000. Most market participants are likely to hold their positions without increasing their stakes.

Pessimistic (Correction): Should the index drop to around 0.75, short-term holders may begin to take profits, resulting in a price decline to the range of $70,000 to $85,000.

At the time of writing, the leading cryptocurrency is trading at $97,140. Over the past day, the asset has increased by 3.3%, and over the last 30 days, it has risen by 14.25%, according to CoinMarketCap.

It’s worth noting that CryptoQuant analyst known as Darkfost noted Bitcoin’s approach to the «euphoria zone.»