Bitcoin Nears Key Breakthrough Point With Potential For Major Rally

According to Odaily, Bitcoin is approaching a critical moment as it nears a potential breakthrough of its recent high. Analysts predict that if this breakthrough occurs, it could trigger a significant rally, leading to consecutive all-time highs. Investor sentiment remains particularly optimistic, as historically, the year following a halving event has yielded the highest returns for Bitcoin, making this period crucial for long-term growth. CryptoQuant analyst Axel Adler highlights that the Bitcoin market is still in a growth phase, supported by the 180-day moving average smoothed MVRV Z-score. This metric, commonly used to assess market conditions, indicates that Bitcoin's price has not yet reached an extremely overbought level, leaving room for substantial upward movement.