The Bitcoin price has been trading sideways above $100,000 for several weeks. While this signals market stability, it also raises the question: when will the next big move happen? According to analysts, a breakout may be closer than it seems.
Technical Indicators Signal Bullish Momentum
Analysts are pointing to the Bollinger Bands indicator—a popular tool in technical analysis—as a reason for optimism. The narrowing of the Bollinger Bands suggests that Bitcoin’s volatility is decreasing, often a precursor to a significant price move.
John Bollinger, the creator of the indicator, has also expressed a bullish outlook for Bitcoin. He recently stated that the current pattern indicates an upcoming rally in the BTC price.
Interestingly, the last time a similar setup occurred was in February 2024. Back then, Bitcoin’s price surged dramatically shortly after the Bollinger Bands tightened in a similar fashion.
Bitcoin Holding Strong Above $100K Since May
Since May 9, Bitcoin has consistently remained above the $100,000 level, dipping below it just once—on June 22—following news of U.S. airstrikes in Iran. However, the market recovered quickly, and Bitcoin was back above the psychological threshold within a day.
This ongoing sideways movement highlights Bitcoin’s current dominance in the crypto market. Institutional demand continues to support the price, keeping it relatively stable despite global economic uncertainty.
Will Bitcoin Rally in July?
Many analysts believe a major move is coming. The Bollinger Bands aren’t the only bullish signal—macroeconomic indicators also support the case. One such metric is the M2 liquidity indicator, which measures the total amount of money circulating in the global economy.
Historically, Bitcoin’s price has followed M2 trends closely. According to Coinglass, global M2 liquidity is rising, which could set the stage for Bitcoin to continue its upward trajectory.
If history repeats itself, this could be the moment many investors have been waiting for.
