Bitcoin is showing a bullish megaphone pattern that could drive its price to between $144,000 and $260,000 this cycle. Analysts note a smaller megaphone pattern on the daily chart suggests that Bitcoin may break above $124,900, potentially targeting $144,200. A larger megaphone pattern, forming over the past 280 days, indicates a pattern validation above $125,000, which could lead to a rally towards $206,800. According to crypto influencer Faisal Baig, a breakout could even see prices reach $260,000. Moreover, a recent drop in the BTC price to $108,000 has triggered panic among short-term holders, leading to an oversold condition reflected in the MVRV ratio. This metric suggests a possible local bottom for BTC, similar to recovery patterns observed in previous months. Accumulation among retail and institutional investors has increased since the price dip, indicating positive future price potential.

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