- The Bitcoin price drives a slow yet steady accumulation trend within the formation of rising channel patterns in daily charts.
- Institutions accumulated a net 69,000 BTC during Q1 2026, indicating strong buy-side activity during the market correction.
- Technical analyst Peter Brandt dismissed a highly optimistic target of $250,000 for BTC in 2026.
The pioneer cryptocurrency Bitcoin shows low volatility trading during Wednesday’s U.S. market hours to trade at $76,204. This consolidation with slight overhead supply pressure at $77,500 can be linked to investors waiting patiently for the US Federal Reserve’s rate cut decision, scheduled to be released today at 2:00 p.m. ET.
The lack of buying pressure is also linked with geopolitical tension in the middle east as despite the extended ceasefire between the U.S. and Iran, the dual blockade in the Strait of Hormuz and a fragile, stalled diplomatic process has kept the market sentiment in fear.
In addition, vet...
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