Is the Bitcoin bull run only in the ‘disbelief’ market cycle phase?
BTC price action would perform a one-off move if it were to top out at its recent $64,500, Alex Saunders believes. Bitcoin (BTC) topping out at $64,500 would mean that this bull market is unlike any other in history, one commentator argues.In a tweet on Tuesday, Alex Saunders, founder and CEO of Nuggets News, used a classic Wall Street paradigm to suggest that BTC’s price is far from its macro top.No Bitcoin bull run ends in “disbelief”Bitcoin has so far failed to crack resistance even at $40,000, languishing 50% below its recent all-time highs. As fear lingers as the driving force behind....
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Top Quant uses the puell multiple to point out a pattern that explains why the current Bitcoin bull cycle is only in the first phase. The Bull Market Is Not Over, Phase 1 Has Just Begun According to a CryptoQuant analyst, past cycles show that the current Bitcoin bull market isn’t over yet. The puell multiple seems to reveal where the price might head next. The puell multiple is a BTC indicator used to tell how healthy miners’ revenue is. It’s calculated by dividing the mining revenue by the 365-day moving average (MA) of the same. Puell Multiple= Mining Revenue USD ÷ 365....
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
Bitcoin (BTC), the pioneering digital currency that has recently seen a notable surge recording 51% in global crypto market capitalization dominance, has now received a fresh analysis from CryptoCon, a seasoned crypto technical analyst hinting at a potential surge in the asset’s price. This projection, shared in a recent post on X (formerly known as Twitter), has caught the attention of many, given its bullish outlook amid the present market landscape. Related Reading: Crypto’s Red Alert: Is War Pushing Bitcoin To $1 Million? Arthur Hayes Weighs In Bitcoin Enters Mid-Cycle Phase Four....
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
Crypto assets like Bitcoin and Ethereum have taken a beating since April local highs, calling into question if the once powerful bull market is over or not. If it isn’t, a fractal discovered from the past market cycle forming this time around, could provide a roadmap for the last leg up of the current bull […]