Analysis shared Patric H., a crypto analyst from CryptelligenceX and X, outlines the seven main reasons investors should expect Bitcoin to continue its upward trend this week. “How can anyone be bearish here?! BTC broke the weekly downtrend, closing above key levels, and some people still call for sub-$40k?! Sorry, bears, you clearly missed the fundamental changes of the past two weeks,” He says.
#1 Mt. Extending the deadline for Gox Bitcoin repayment
Mt. Gox is seeking to change its current repayment deadline. approved The court will decide. This new date for refunding the creditors has been moved to October 31st 2025. It is a year earlier than originally scheduled. This delay removes any immediate selling pressure that would have been expected to occur on the markets, namely 44.905 BTC or $2.9 billion.
China’s Economic Stimulus
China will issue bonds worth $325 billion to boost its economy. In the United Arab Emirates, OKX launched its fully-licensed trading platform. This allows Chinese investors to trade cryptocurrency under UAE law. Patric H. says, “Chinese money is gonna enter crypto in Q4.”
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3 Declining Bitcoin Exchange reserves
Bitcoin exchange reserves continue dwindling as institutional investors, whales and other cryptocurrency enthusiasts accumulate it at unheard of rates. A supply shortfall on exchanges could cause a demand shock, as this trend is indicative of a lack of supply. “Eventually, it will lead to a supply shockAnalysts note that higher prices will be seen in time.
The Bitcoin whale accumulation surge has reached a new level.
On-chain data shows that Bitcoin whales have never been so wealthy. Ki Young Ju is the CEO and founder at CryptoQuant. “The current market volatility is just a game in the futures market. Real whales move the market through spot trading and OTC markets. That’s why on-chain data is crucial.”
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He said that the new whales would not sell until there is substantial liquidity coming from retail investors. “Look at how fiercely the new whales are stacking Bitcoin; this market has never seen such accumulation,” He emphasized. Notably, there is no correlation. US spot ETF inflows These could represent strategic institutional accumulations.
Trump is leading the polls #5
Politic forecasts show that Donald Trump, the former US President is increasing his popularity in swing states before the next elections. Polymarket’s most recent data shows that Trump has gained popularity in swing states ahead of the upcoming elections. projected Win all seven of the key swing states. Patric H. reminds the readers: “Trump is pro-crypto; Elon Musk will lead a Department of Government Efficiency (DOGE).”
#6 S&P 500 As Trailblazer
The S&P 500 index is trading at an all-time high, historically signaling positive momentum for Bitcoin and crypto. “There has not been a time in history when Bitcoin and the altcoins market did not catch up to the performance of the S&P 500,” Patric H. dismisses skepticism by, “But ‘this time is different’… yeah, sure.” It is possible that the bullish market trends of traditional markets could be reflected in Bitcoin and the crypto-sector.
#7 Seasonality
In the past, historically, the fourth (Q4) quarter has been the most bullish period Bitcoin will be worth more in half-years. “Bitcoin and the crypto market tend to outperform all asset classes in a halving year,” According to the analyst,
The technical analysis of Bitcoin also supports these reasons. Patric H. explains that Bitcoin’s weekly downtrend has been closed, signaling the potential for a reversal of momentum from bearish towards bullish. Moreover the crypto is holding firmly over the 50-weeks Exponential moving Average (EMA), a key support level. The Moving Average Convergence Divergence indicator (MACD), which is often taken as a signal to buy, has also made its first bullish crossover since April.
“Yes, there will be pullbacks every now and then. But from now on, dips are for buying as the market structure clearly shifted from a downtrend to an uptrend,” Patric closes.
BTC was trading at $68 397 as of the time this article went to press.
Featured image was created with DALL.E chart by TradingView.com
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Source: www.newsbtc.com
