Avalanche Nears Breakout \u2013 Top Analyst Sets $420 Target For AVAX This Cycle<\/a><\/div>\nNonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoin\u2019s strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb.\u00a0<\/span><\/p>\nFeatured image from Dall-E, chart from TradingView<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This latest milestone cements Bitcoin’s momentum as it pushes into uncharted territory, capturing the bulls’ attention and sparking new levels of optimism in the market.\u00a0 According to recent data from CryptoQuant, the number of bullish investors is growing rapidly, yet there\u2019s reason to believe Bitcoin\u2019s rally is far from over. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH \u2013 Time To Buy Altcoins? CryptoQuant\u2019s insights indicate that BTC remains significantly below its March 2024 peak in several key metrics, which suggests that Bitcoin may still have room to climb within this cycle. This gap highlights that, despite the impressive gains, Bitcoin could still be building toward a true cycle peak, with potential gains yet to be realized.\u00a0 As investor sentiment strengthens and Bitcoin shows resilience at each new level, the market watches closely for signs of continued upward momentum. The next few days will be crucial in determining just how far Bitcoin can go as it solidifies its place in the next phase of this bull run. Bitcoin Bulls Enter The Room Bitcoin bulls have returned after eight months of sideways consolidation and significant selling pressure. With Bitcoin now trading 11% above its previous all-time high from March, market sentiment has turned decisively bullish, marking the start of a new trend.\u00a0 According to data from CryptoQuant analyst Axel Adler, the number of bullish investors in the market is steadily rising, signaling growing confidence. However, despite this uptick, the current rally lacks the frenzied demand seen during the March 2024 rally, when both retail and institutional interest reached euphoric levels. Adler\u2019s data indicates that while bulls have a strong foothold in the market, the pace of accumulation by new retail and institutional participants is still relatively modest. This gap between the current market dynamics and those seen in March suggests that Bitcoin\u2019s latest surge may be just the beginning rather than the end of its upward trajectory in this cycle.\u00a0 Related Reading: Cardano Skyrockets Over 40% \u2013 Funding Rate Suggests Further Upside The slower but steady rise in buying interest could indicate that Bitcoin is still in the early stages of this bullish phase, with room for further growth before reaching a cycle peak. For investors, this could present a promising opportunity. The subdued retail and institutional excitement level suggests that Bitcoin has yet to capture mainstream attention as it did during previous peaks. If demand rises gradually, Bitcoin may experience sustained growth over the coming months, potentially reaching new highs as momentum builds.\u00a0 BTC Setting New High Bitcoin recently set a new all-time high above $82,000, which many investors previously viewed as a likely local top. However, BTC\u2019s price action remains robust, and it may be too soon to call for a definitive peak.\u00a0 Despite this upward momentum, a potential pullback to $77,000 could be on the horizon, as there is an unfilled gap in the CME futures market between $77,000 and $81,000\u2014a technical level that often attracts price action as traders look to close the gap. This week will likely bring significant volatility as bulls control the market. With Bitcoin in uncharted territory, some investors may seize the opportunity to lock in profits, which could introduce selling pressure.\u00a0 Related Reading: Avalanche Nears Breakout \u2013 Top Analyst Sets $420 Target For AVAX This Cycle Nonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoin\u2019s strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb.\u00a0 Featured image from Dall-E, chart from TradingView<\/p>\n","protected":false},"author":617,"featured_media":652553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,84297,86073,14618,92224,656,15150,1119,78790],"class_list":["post-652552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-ath","tag-bitcoin-breakout","tag-bitcoin-bulls","tag-bitcoin-cycle-peak","tag-bitcoin-news","tag-bitcoin-technical-charts","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n
Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak \u2013 Details<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n