Bitcoin is poised for a significant breakout from its prolonged downtrend, according to analysts who point to rising prices and bullish market signals. Recent weeks have witnessed Bitcoin surge past $84,000 after hitting a multi-month low of $74,773, with experts attributing this growth to the increasing popularity of decentralized finance (DeFi) applications and increased interest from institutional investors. 22% down from its all-time high of $108,786 recorded in January, Bitcoin’s current price movement comes at a time when many investors view dips as buying opportunities. Analysts are tracking several key indicators to confirm this trend: On-chain data suggests strong accumulation of Bitcoin at critical price levels, with over 40,000 BTC accumulating at $79,000 and another 51,000 BTC observed at $82,080. This activity could act as a crucial support for the potential upward movement. Notably, the rising demand and accumulation signals align with positive technical indicators from analysts like Rekt Capital and Merlijn The Trader, who both highlight bullish divergences on momentum indicators, leading to projections of price targets exceeding $102,000. A breakout above the long-term downtrend could further push Bitcoin’s price into new territory, with key resistance levels at the $90,000 psychological mark and potentially reaching the $100,000 threshold in the coming weeks. This potential surge comes amid recent volatility in the crypto market influenced by macroeconomic factors, but long-term holder supply remains high, signifying confidence in Bitcoin’s long-term value proposition among investors with a historically low time preference for returns.