• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets

The Grayscale Bitcoin Trust May Be Signaling BTC has Formed a Long-Term Bottom

Cole Petersen
by Cole Petersen
5 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
  • Bitcoin has been consolidating between $9,000 and $10,000 for the past several days and weeks, struggling to garner any clear trend
  • The crypto has expressed some overt weakness in recent times due to its propensity to trade near the lower boundary of this range
  • Buyers have been ardently defending against a drop below $9,000
  • One trend seen while looking towards the publicly traded Grayscale Bitcoin Trust seems to indicate that the cryptocurrency could be forming a long-term bottom that will be followed by an uptrend

Analysts are conflicted as to whether or not Bitcoin’s extended bout of sideways trading means that it is forming a long-term top, as the cryptocurrency has been hovering within the $9,000 region for well over a month.

It is important to note that the benchmark crypto tends to form tops in sharp movements, rather than through long, drawn-out bouts of range-bound trading.

One analyst does believe that this suggests that Bitcoin is not currently forming a top.

A trend seen while looking towards the Grayscale Bitcoin Trust’s premium seems to corroborate this notion, with its plummeting premium historically being a sign of the market bottoming.

Analyst: History Shows Bitcoin is Not Currently Forming a Top Pattern

At the time of writing, Bitcoin is trading up just over 1% at its current price of $9,240. This is around where it has been trading over the past day.

In the time since the massive volatility was seen last week – incurred when BTC pushed to $9,800 before facing a swift rejection – it has been hovering in the lower-$9,000 region.

Despite its prolonged bout of sideways trading and frequent rejections around $10,000 both indicating that BTC has formed a top, one analyst doesn’t believe that this is the case.

He notes that in the past, all of the benchmark cryptocurrency’s macro tops “usually happen fast” and are not formed over multi-week periods.

“Something’s off, this is taking too long. If this is the top, then it might be the most drawn out top in BTC history. BTC tops usually happen fast, blow-off top style or a roll-over that accelerates quickly,” he explained.

Bitcoin

Image courtesy of Byzantine General. Chart via TradingView.

What the Grayscale BTC Trust’s Premium Might Say About the Crypto

There’s another factor that signals Bitcoin is not forming a top.

The same analyst also pointed to the GBTC premium, explaining that low premiums tend to correlate with market bottoms, and vice versa.

Because the premium has been diving as of late, it is a possibility that the cryptocurrency could be positioned to see further upside in the coming days and weeks.

“Premium is always higher when market goes parabolic, premium is low when market bottoms out,” he said.

Image courtesy of Byzantine General. Chart via TradingView.

Featured image from Shutterstock.

Charts from TradingView.
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Follow

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Full Profile

Related Posts

bitcoin-price-volatility-live-update-october-14-2025-tw

比特幣即時新聞:短期波動加劇動態更新(10月14日)

2 hours ago
Bitcoin

Bitcoin Meets Rock ‘N Roll: Decoding Michael Saylor’s “Don’t Stop Believin’” Tweet

15 hours ago
Cena Bitcoinu po prepade o 20 000 $ opäť rastie. Aká je predikcia do konca roka 2025?

Cena Bitcoinu po prepade o 20 000 $ opäť rastie. Aká je predikcia do konca roka 2025?

15 hours ago
bitcoin-price-crash-funds-shift-to-layer2-bitcoin-hyper-presale-23m-tw

比特幣價格暴跌引資金轉向Layer 2幣避險:Bitcoin Hyper預售突破2,300萬美元

1 day ago
binance-stablecoin-crash-live-update-october-13-2025-tw

幣安即時新聞:穩定幣暴跌動態更新(10月13日)

1 day ago
Bitcoin

Bitcoin Tariff-Driven Market Crash May Not Be The Real Bottom — Analyst

1 day ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Bitcoin Hyper ระดมทุนพุ่ง 23...

    18 hours ago
  • Magacoin Finance: Learn Why Traders are Snapping Up the First and Only MAGA-Themed Cryptocurrency.

    Magacoin Finance: Learn Why Traders are Snapping Up the...

    19 hours ago
  • BNB

    ChatGPT предвижда BNB да достигне $2,500...

    4 days ago
  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    5 days ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.