K33 Research points out that such a price pattern is an extraordinary event, only happening a few times since 2017.
Bitcoin (BTC) grabbed the attention of traders on Friday, particularly during the European trading hours, as its price action puzzled many observers.
On the BTCUSD chart for Coinbase, a rare occurrence was seen — 14 consecutive green hourly candles. This means that in each of the past 14 hours, Bitcoin saw price increases. The rally began on January 9 at 21:00 UTC and continued until 10:00 UTC on January 10, driving the price from $91,771 to $95,283.
This unusual sequence of price movement has left traders discussing the anomaly, particularly on X.
Vetle Lunde, Senior Analyst at K33 Research, reviewed historical data and confirmed that this is the longest green hourly streak since January 1, 2017, which recorded 11 consecutive hourly gains.
Notably, Bitcoin had similar streaks on January 14, 2023 (11 consecutive green candles), February 26, 2024 (11), and November 12, 2024 (11), making these events a rare phenomenon.
As of now, the 15th hourly candle is red, which could signal the end of the trend. This candle is set to close at 12:00 UTC, potentially ending the streak.
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