Analyst: Bitcoin has been consolidating for a long time to accumulate strength for the future market, and Friday's U.S. employment data may become a breakthrough catalyst.

GateUser-6433627c · 2025-05-01T06:34:19+00:00

The market has shown a range of fluctuations over the past week, laying the groundwork for a possible strong upward movement. Analysts point out that prolonged consolidation may be building momentum for future trends. The market's fluctuation range is narrow, but it has not broken through the 200-day moving average, currently positioned at $3.01 trillion. Global favourable information may drive the market to break through and impact the $3.5 trillion area. The altcoin market may experience strong fluctuations.

GateUser-6433627c

2025-05-01 06:34:19

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On May 1st, according to CoinDesk, the market has basically been in a range-bound state over the past week, and analysts believe this lays the foundation for a possible strong upward movement. FxPro’s chief market analyst Alex Kuptsikevich stated, “A long period of consolidation usually builds momentum for subsequent price movements. The next important trigger could be Friday’s employment market data.” “Over the past five days, the market’s fluctuation range has been very narrow, showing a slight downward trend. However, it still has not broken through its 200-day moving average, which currently stands at $3.01 trillion. If there is favorable information globally, the market is expected to break through and possibly challenge the $3.5 trillion area,” Kuptsikevich added, noting that the alts market may experience strong fluctuations.

BTC-2.51%

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