- Bitcoin’s TMMP suggests a potential price surge despite short-term dips.
- Long-term holders remain confident, accumulating more Bitcoin during price drops.
Bitcoin’s price is being intensely watched as it navigates bulls and bears. Although the recent price action has caused some concern, the leading indicators show that the long-term trend is still up. A key metric to watch is the True Market Mean Price (TMMP), which removes the mining distortions from the data. Despite the fall and potential dip to $64k or lower, these metrics suggest that Bitcoin’s next move could surpass all-time highs.
The True Market Mean Price: A Key Signal
One of the most underutilized metrics in the market today is the True Market Mean Price (TMMP). This metric removes Bitcoin mining activity from the data and has been a reliable signal during previous corrections. During the China Ban of 2021, Bitcoin bounced back sharply after hitting TMMP levels and broke an all-time high. Bitcoin (BTC) is currently at $83,220, up by 0.44% in the last 24 hours, and TMMP suggests that despite short-term drops, Bitcoin could be about to surge.
As per our recent report, crypto analyst Ali Martinez noted that Bitcoin has been oversold for the first time since August 2024. At that time, Bitcoin rallied 33%. This pattern confirms that the current dip could be temporary, and the market could be set up for another move. Plus, the recent accumulation by long term holders supports this theory. Over the last 30 days, more than 131,000 BTC have been added to the wallets, indicating growing confidence in Bitcoin’s long-term even with the short-term volatility.
Altcoins and the Future of Bitcoin
While Bitcoin is still king in the crypto market, the rise of altcoins is impossible to ignore. Stablecoins and new projects are popping up, and an altcoin season may be ahead. The market is shifting attention towards these new opportunities as Bitcoin’s dominance remains high. Analysts say altcoins could see significant growth, and many are positioning themselves to ride these new projects as Bitcoin consolidates.
The shifts in Bitcoin’s price cycle also raise questions about its traditional 4-year halving pattern. Bitcoin’s halvings have historically led to massive post-halving surges, but this cycle may deviate from that script. After Bitcoin’s 4th halving in April 2024, the price reached $63,000 and then $106,000 by December 2024 before pulling back. While Bitcoin has continuously surged post-halving, the current market behavior suggests it may be leaving the predictable cycles of the past behind. The current price range of $82,850 to $83,220 is consolidation, but the market could break out as it adjusts to these new patterns.
Looking forward, it’s time to consider the bigger picture. Bitcoin may not be the only way to make money in this cycle. Altcoins are gaining traction, especially those associated with new and innovative projects. Even if Bitcoin drops below $70k, the mark will be strong, and a big rebound will come.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
