Darryl Wang, a Chinese market analyst and founder of the investment company Tangent, has expressed optimism about Bitcoin’s (BTC) current price levels, suggesting they are ripe for an upward trend.
Wang notes that despite limited market activity at present, Bitcoin’s price maintaining above the $84,000 support threshold signals a reduction in selling pressure.
He further explains that recent declines in trading volume and thinner order books create conditions where even a small influx of large investors could trigger a swift and significant price surge. According to Wang, this liquidity environment is conducive to sudden upward spikes.
Additionally, Wang highlighted the impact of seasonal patterns on volatility. Historically, January tends to experience heightened market fluctuations. He anticipates that as December ends, the current lull may break with renewed sharp movements and increased volatility in the weeks ahead.
At this moment, Bitcoin is valued at $87,198.
*This content does not constitute financial advice.