Bitcoin News
By Evie Vavasseur
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Bitcoin has kicked off May with a powerful surge, breaking past the $97,000 mark for the first time in months.
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But despite the excitement, the road ahead for BTC remains uncertain. According to recent on-chain analysis, Bitcoin now stands at a crucial turning point, with three possible…
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Bitcoin Breaks Resistance — But Is It Sustainable?
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Bitcoin closed at $97,406 on May 1, overcoming a level it had failed to maintain since late February.
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This shift also flipped many recent buyers into an unrealized profit position, reducing selling pressure and supporting the bullish thesis.
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Three Potential Scenarios for Bitcoin’s Next Move
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Crypto analyst Axel Adler, using data from CryptoQuant, pointed to Bitcoin’s momentum ratio as a key signal. As of now, BTC’s momentum ratio sits around 0.
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Scenario 1: The Bull Run — Momentum Ratio Above 1.0
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If Bitcoin’s momentum ratio breaks above 1.0 and holds, it would indicate renewed strength and buying pressure.
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Currently, the MVRV stands at 2.16, still far from the historical top zone near 3.9. Likewise, NUPL is at 0.54, suggesting the market is in an early optimism phase, not euphoria.
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Scenario 2: Consolidation Between $90K and $110K
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In a more neutral outlook, if the momentum ratio remains between 0.8 and 1.0, Bitcoin is likely to trade sideways in a wide band between $90,000 and $110,000.
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This scenario is considered more likely if current buying pressure levels off but does not reverse significantly.
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If the momentum ratio dips below 0.75, a bearish outcome may unfold. In that case, short-term holders could begin to cash out, triggering a correction back into the…
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While no one can predict the exact path, current market conditions favor either a bullish continuation or a consolidation phase.
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