Bitcoin’s Price Squeeze: Is the Next Move a Champagne Pop or a Damp Squib?

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Well, dash it all, it appears Bitcoin has once again squeezed itself into a range so tight you’d need a crowbar and a stiff drink to pry it open. According to the estimable Axel Adler Jr (who, one suspects, keeps a monocle handy for just such occasions), the old BTC is compressing on the daily timeframe like a gentleman’s wallet after a weekend at Monte Carlo.

Bitcoin’s 180-Day Range: Tighter Than Aunt Agatha’s Purse Strings

Our chap Adler Jr, posting on X (which, I assure you, is not a treasure map), has produced a chart that would make even Jeeves raise an eyebrow.

Observe, if you will, the red line—tracking the highest price in 180 days—and the green line—marking the lowest. The orange bit at the bottom? That’s the percentage difference, shrinking faster than my enthusiasm for cold showers.

This is the third time this cycle that Bitcoin has pulled this trick. Historically, when BTC gets this wound up, it tends to explode out of its range with all the subtlety of a champagne cork at Blandings Castle. The last two times, we saw rallies that would make even Lord Emsworth’s prize pig blush.

But wait! There’s more. Cast your mind back to 2017—three similar compressions, followed by a rally so wild it left everyone clutching their hats and monocles. “Very soon, we’ll see just how tightly the spring has been coiled this time,” says our analyst, with all the suspense of a detective novel cliffhanger. 🕵️‍♂️

Meanwhile, in other news, nearly everyone in Bitcoinland is hoarding coins like Bertie Wooster hoards excuses at prize-giving ceremonies. Glassnode, another analytics outfit (presumably with even more charts and fewer cocktails), notes that almost every cohort is in accumulation mode—except for those holding 1 to 10 coins, who are apparently still selling, perhaps to fund their next round at the Drones Club.

The “Accumulation Trend Score” (which sounds like something Aunt Dahlia would invent to judge her kitchen staff) shows most groups are buying up Bitcoin like there’s no tomorrow. Only the 1-10 coin crowd seems to have missed the memo.

BTC Price

And now, for the pièce de résistance: Bitcoin is tiptoeing ever closer to its all-time high, having surged to $106,000. One can only imagine the celebrations if it breaks through—champagne all round and perhaps even a new hat for Jeeves.

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2025-05-21 15:21