Analyst Says Pattern That Precedes Major Bitcoin Rally is Back, Cardano Whales Go on Buying Spree Ahead of Potential Rally

The Bitcoin price has remained under $110k since failing to clear this critical resistance level in early November. Despite the current market performance and mixed sentiments flagged by momentum indicators, a CryptoQuant analyst has predicted that a major Bitcoin rally could happen. 

According to Moreno, Bitcoin has entered a liquidity setup that has historically preceded major price rallies. Similarly, Cardano whales have bought over $200 million worth of ADA over the last four days in anticipation of a major price pump.

CryptoQuant Analyst Points To Pattern That Precedes Major Bitcoin Rallies

Since the early October crypto market crash, Bitcoin has struggled to maintian any form of consistent bullish momentum. Bitcoin has spent the last two weeks consolidating under the critical $110,000 resistance level. Bitcoin now exchanges hands at around $105. 

Regardless of what the current market performance paints, a CryptoQuant analyst, Moreno, has said that Bitcoin has entered a liquidity setup that has historically appeared ahead of major price surges. The Stablecoin Supply Ratio (SSR) has entered levels that previously marked key bottoms, such as in mid-2021 and several points throughout 2024.

The Bitcoin SSR compares the market cap of BTC to the total market cap of all stablecoins. This metric is used to determine how much idle capital is sitting on the sidelines. According to a CryptoQuant shared by Moreno, the SSR is at the 13 range, meaning Bitcoin could see a rebound soon. 

In addition, the Bitcoin-to-Stablecoin Reserve Ratio suggests that a pump could happen soon. The reserve of stablecoins in the Binance exchange is increasing but the reserve of Bitcoin is reducing. This means that investors are ready to make purchases, and this may push the price of Bitcoin even higher.

The analyst, Don, has predicted that within the next 19 days, Bitcoin could record a huge price move. If this trend holds, the Bitcoin price could return to the $126k ATH soon.

Cardano Whales Go on Buying Spree in Anticipation of ADA Price Pump

In the last one month, Cardano has been trending in the same direction as the crypto market. Cardano is trading around the $0.5700 range. The closest resistance is found at $0.600.

However, it appears that Cardano is slowly gaining traction, with the re-emergence of whales suggesting this issue. The Santiment data show that the whales have accumulated a total of 384 million coins of ADA and over 204 million coins on the last four days.

Moreover, the number of ADA addresses with 100,000 to 100 million coins has grown. The increase in whale addresses and purchases is a pattern that suggests major market participants are positioning themselves for a potential price rally.

If the Cardano price clears the resistance levels at $0.600 and $0.6300, it could begin its major uptrend. According to Dan Gambardello, Cardano is in a liquidity contraction phase. When it breaks out for expansion, he believes that the Cardano price could rally towards $10. 

In Summary

While the current market trend has been predominantly bearish, current trends suggest that Bitcoin and Cardano could begin to rally soon. Based on the predictions of analysts, the price of BTC and ADA could explode to new all-time highs over the next few weeks.