Close Menu
  • Home
  • News
  • Bitcoin
  • Ripple
  • Shiba Inu
  • Cardano
  • All Posts
What's Hot

Bitcoin May Dominate as a Store of Value, While VeChain Excels in Real-World Applications

Jun. 10, 2025

SHIB Team States “It’s Getting Serious” as Shiba Inu Readies for Significant Developments

Jun. 10, 2025

Is it Possible for Shiba Inu to Re-enter the Top 10 if Shibarium Incinerates 10 Trillion SHIB Each Month?

Jun. 10, 2025
Facebook X (Twitter) Instagram
Global Bit VisionGlobal Bit Vision
Facebook X (Twitter) Instagram Pinterest
  • Home
  • News
  • Bitcoin
  • Ripple
  • Shiba Inu
  • Cardano
  • All Posts
Subscribe
Global Bit VisionGlobal Bit Vision
Home » Is Bitcoin on the Verge of Reaching $73K Again? Is the ‘Escape Velocity’ Phase Approaching?
Bitcoin

Is Bitcoin on the Verge of Reaching $73K Again? Is the ‘Escape Velocity’ Phase Approaching?

By adminMay. 23, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Is Bitcoin on the Verge of Reaching $73K Again? Is the 'Escape Velocity' Phase Approaching?
Is Bitcoin on the Verge of Reaching $73K Again? Is the 'Escape Velocity' Phase Approaching?
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Bitcoin’s recent rally is driven by excitement rather than euphoria, but it could be the start of a significant upward movement towards $73k, according to an analyst. However, the analyst also warns that wallets holding Bitcoin for less than 155 days may take profit at its peak, triggering a massive sell-off.

Bitcoin is currently trading at $69k and is expected to make a dramatic return to $73k after a bullish reversal from below $65k. Although Bitcoin is down by 0.3% in the last 24 hours, it has seen a 5% increase in the last seven days and a 35% increase in the last 90 days.

Trading activities have slowed down in the past couple of days, leading to a slight decrease in market cap and valuation. However, market insiders remain optimistic about a potential upsurge.

Crypto analyst James Check explains that Bitcoin’s movement from its current price point to above $73k could be the beginning of its acceleration to “escape velocity.” This term, borrowed from astrophysics, describes the minimum speed required for an object to escape from a primary body’s orbit. In the crypto context, Check uses it to describe Bitcoin’s expected behavior after surpassing its all-time high price.

Referring to the short-term holder (STH) market value to realized value (MVRV) metric, Check explains that the Bitcoin market is not yet overstretch, overbought, or oversaturated. This indicates that the current market situation is stable and enthusiastic. However, the transition from enthusiasm to euphoria could happen at any moment.

Although the transition from enthusiasm to euphoria can occur quickly, it seems that Bitcoin has not reached the point of euphoric escape velocity yet. The market is currently in a steady, stable, and enthusiastic phase of the bull run.

Check cautions that there may be profit-taking at $73k for wallets that have held Bitcoin for less than 155 days. This could invalidate any future predictions, including one made by analyst Roman, which was reviewed by Crypto News Flash.

Crypto trader Matthew Hyland also believes that the current surge to $70k is driven by excitement rather than euphoria. This suggests that Bitcoin’s bull run has not yet started. On the other hand, crypto trader Yoddha predicts that Bitcoin has 300 days to reach a new all-time high, based on the fact that it has been consolidating in the current stage for almost three months.

Whales have been accumulating Bitcoin ahead of this potential explosive run, with $16.8 billion worth of the asset purchased since the approval of US spot Bitcoin Exchange-Traded Funds (ETFs), according to IntoTheBlock. The amount of assets held by whales is now back to pre-FTX collapse levels, but this time institutional investors are the primary holders.

In conclusion, Bitcoin’s recent rally is driven by excitement rather than euphoria, and it could be the beginning of a significant upward movement towards $73k. However, profit-taking by short-term holders could trigger a massive sell-off. The market is currently stable and enthusiastic, but the transition to euphoria is imminent. Traders have different predictions on when the bull run will start, with some suggesting it is still a few hundred days away. Whales have been accumulating Bitcoin, and institutional investors are now the main holders of the asset.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleThe Success Story of Cooper Turley: Going from College to Crypto Millionaire
Next Article Bitcoin, XRP, and Crypto FIT21 Bill Overcome Democratic Wave, Successfully Pass U.S. House: Anticipate Stable XRP and BTC Price Levels in the Long Run

Related Posts

Bitcoin

BTC News: Cathie Wood Unveils Strategy for Bitcoin to Reach $1.5M by the End of the Decade

By adminMay. 19, 2025
Bitcoin

Top 3 Cryptocurrencies at a Crossroads: Weak Momentum Casts Doubts on the Rally of BTC, ETH, and XRP

By adminMay. 19, 2025
Bitcoin

Bitcoin Achieves $906 Billion in Realized Market Capitalization as Investors Continue Purchasing

By adminMay. 19, 2025
Bitcoin

Ukraine Adopts Bitcoin, Reveals Strategy for Europe’s First Sovereign Reserve

By adminMay. 15, 2025
Bitcoin

Eric Trump Confirms That Donald Trump Discreetly Accumulated Bitcoin

By adminMay. 8, 2025
Bitcoin

Revolut Introduces Rapid Bitcoin Transactions via Lightning Network

By adminMay. 8, 2025
Add A Comment
Leave A Reply Cancel Reply

Don't Miss

Bitcoin May Dominate as a Store of Value, While VeChain Excels in Real-World Applications

Jun. 10, 2025

Bitcoin (BTC) is always hailed as “digital gold”Seen as a modern store of value with lasting app…

SHIB Team States “It’s Getting Serious” as Shiba Inu Readies for Significant Developments

Jun. 10, 2025

Is it Possible for Shiba Inu to Re-enter the Top 10 if Shibarium Incinerates 10 Trillion SHIB Each Month?

Jun. 10, 2025

VeChain Launches First VeBetter Grant — Cast Your Vote Now

Jun. 9, 2025
Top Posts

BantGo and Verofax Join Forces on Blockchain Rewards for Recycling Electronics: Another Promising Application of VeChain

Oct. 26, 2023

Exploring VeChain’s Market Aspirations and Billion-Dollar Applications: A Journey towards $1 VET

Oct. 30, 2023

Vechain’s Vision: Utilizing Blockchain to Combat the Climate Crisis – Will this Drive VET to Reach New All-Time Highs?

Oct. 30, 2023

Vechain x Coinbase Rewards Program: Earn VET on Coinbase

Oct. 31, 2023
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
About Us
About Us

Global Bit Vision is your premier platform for exploring the realm of blockchain and cryptocurrency. We provide the latest industry updates, in-depth analysis, and exclusive reports to help you gain a deep understanding of the digital asset market and seize investment opportunities for wealth appreciation.

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Bitcoin May Dominate as a Store of Value, While VeChain Excels in Real-World Applications

Jun. 10, 2025

SHIB Team States “It’s Getting Serious” as Shiba Inu Readies for Significant Developments

Jun. 10, 2025

Is it Possible for Shiba Inu to Re-enter the Top 10 if Shibarium Incinerates 10 Trillion SHIB Each Month?

Jun. 10, 2025
Most Popular

Ripples Garlinghouse Claims Bitcoin ETFs Outperform Gold ETFs Focus on XRP

Jun. 6, 2024

South Korea Excludes Bitcoin from Reserves Due to Volatility Concerns

Mar. 17, 2025

WoV Labs Partnership Boosts VeChain Adoption, Facilitating Phygital Tokenization Development and Integration

Jun. 5, 2024
  • Home
  • News
  • Bitcoin
  • Ripple
  • Shiba Inu
  • Cardano
  • All Posts
© 2025 Global Bit Vision All rights reserved.

Type above and press Enter to search. Press Esc to cancel.