Is Bitcoin Building a Base Before Its Next Big Move Toward $88K?
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Bitcoin rose ~20% over 30 days, trading near $81,000 (first time since Feb); key levels: $84K CME gap and $80.6K support, though selling pressure returned. Whales bought ~50,000 BTC in April; macro risks and the Fed meeting are noted downside catalysts. Analyst Bob Loukas views the 88-day rebound as potential base building toward ~$88K, a constructive signal for crypto market structure and BTC adoption.
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- Bitcoin’s move above $81K kept the unfilled $84K CME gap and $80.6K support in focus.
- Loukas said Bitcoin’s long rebound may signal base building rather than a brief countertrend rally.
- Whales bought 50,000 BTC in April while macro risks and the Fed meeting stayed in focus.
Bitcoin has gained more than 20% over the past 30 days as market conditions improved and geopolitical tensions eased. The move pushed BTC near the $81,000 level for the first time since February, signaling renewed buying interest.
Selling pressure returned soon after the breakout attempt. Still, the move placed Bitcoin near a key range as traders watch whether momentum could carry the asset toward higher resistance.
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