Bitcoin has entered an accumulation zone that historically precedes parabolic rallies, with one analyst projecting a new all-time high near $250,000.
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Bitcoin enters accumulation zone as analyst targets $250,000 all-time high
Bitcoin has entered an accumulation zone that historically precedes parabolic rallies, with one analyst projecting a new all-time high near $250,000.
Bitcoin edged toward a key accumulation zone on June 2 as the largest cryptocurrency traded near $70,700, with analyst Aralez projecting a rally to $250,000 in the next bull cycle.
"Bitcoin is entering a zone where previous accumulation phases have preceded explosive moves higher," Aralez, a crypto analyst, said in a note published June 2.
The call comes as Bitcoin trades at $70,686, down from its all-time high but showing signs of stabilization. The ahr999 hoarding index, a metric that identifies favorable accumulation periods, stood at 0.5803 — within the "dollar-cost averaging zone" for the first time in two months, according to AiCoin data. The Fear and Greed Index fell to 23, entering "extreme fear" territory after a single-day drop of 20.69 percent.
The $250,000 target implies a potential gain of more than 250 percent from current levels. However, the path higher faces near-term headwinds: Bitcoin spot ETFs have recorded net outflows for 10 consecutive days totaling about $2.97 billion, and a whale identified as "Evaded" opened 940 BTC in short positions worth approximately $71 million after closing long positions at a $4.83 million loss.
Extreme Fear Meets Dollar-Cost Averaging Signal
The simultaneous readings of extreme fear on the FGI and a dollar-cost averaging signal on the ahr999 index have historically marked mid-to-long-term value zones, according to AiCoin data. In prior cycles, similar configurations preceded significant price recoveries — but only after ETF capital and on-chain whales resumed accumulation.
BlackRock's IBIT fund saw a single-day net outflow of about $528 million, contributing to the broader ETF exodus. Ethereum spot ETFs have also bled capital, recording net outflows for 13 consecutive days totaling about $695 million, data from the SEC filings show.
Support and Resistance Levels in Focus
Bitcoin's immediate support sits at $70,686, with a deeper floor near $69,300, according to market data. On the upside, resistance stands at $72,000 — the 30-period EMA — and $72,600 at the upper end of the current range.
Traders are watching for a "high volume bottoming plus ETF capital inflow" confirmation before treating the current zone as a definitive bottom, rather than a pause before further downside. The 4-hour MACD has not yet produced a golden cross, and funding rates remain subdued, suggesting leveraged buyers have not returned in force.
For Aralez, the accumulation zone thesis rests on historical precedent rather than immediate price action. "The setup is in place," the analyst said. "What's missing is the catalyst — and those tend to arrive when the market least expects them."
This article is for informational purposes only and does not constitute investment advice.
[1] Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000[2] XRP price nears oversold zone as whale withdrawals hit 2021 low - Bitget[3] Strategy sells BTC for the first time since 2022, with ETFs experiencing nearly $3 billion in net outflows for 10 consecutive days - Bitget[4] XRP Tumbles to 15-Week Low as Selling Pressure Intensifies – Critical Support Zones Ahead - MEXC[5] SHIB Price Prediction Hits a Wall as 580 Billion Tokens Exit Exchanges While Pepeto Presale Passes $10 Million - openPR.com
