Bitcoin price action mirrors 2019 ‘Xi pump,’ are new BTC lows incoming?
Analysts say Bitcoin’s recent weekend pump to $95,000 is eerily similar to the “Xi pump” in 2019.
Bitcoin’s weekly chart was on track to close below $90,000 for the first time since November 2024, but a late surge pushed prices higher following US President Donald Trump’s announcement of a crypto strategic reserve.
Bitcoin weekly chart. Source: Cointelegraph/TradingView
Despite February’s monthly candle closing at $84,299, BTC’s (BTC) weekly close formed a doji candle, closing at $94,222. With prices retesting the $95,000 overhead resistance, one analyst remained cautious about a repeat of 2019’s “Xi pump.”
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