Bitcoin is currently exhibiting a textbook Wyckoff-style structure on the daily timeframe, now supported by strong on-chain and market statistics.
After peaking earlier in the year, Bitcoin entered a distribution phase where price topped out and large holders began offloading positions. This was followed by an extended accumulation range between $48,000 and $60,000, lasting several months. During this period, key metrics reinforced accumulation behavior:
Exchange reserves dropped by roughly 8–12% over the accumulation phase, indicating coins were being withdrawn to cold storage (a bullish sign).
Long-term holder supply increased to over 70% of circulating supply, showing strong conviction among investors.
Realized volatility declined toward 35–40%, reflecting consolidation and reduced speculative activity.
The final bottom formed around June, after which Bitcoin began forming higher lows—an early signal of strength.
Now, Bitcoin has broken out decisively and is trading near $76,100–$76,300, marking a ~25–30% move above the upper range of the accumulation zone. Momentum indicators confirm this breakout:
24h trading volume has surged by over 40% above its 30-day average, showing strong participation.
Relative Strength Index (RSI) on the daily chart is around 65–70, indicating bullish momentum without being deeply overbought.
Market dominance of Bitcoin has climbed back above 52%, suggesting capital rotation into BTC.$BTC
