Bitcoin continues its bull market trajectory, displaying sturdy similarities to earlier cycles nonetheless with key structural variations as a consequence of spot ETFs, institutional demand, and liquidity migration. Whereas diminishing returns keep a perform of each cycle, on-chain data suggests Bitcoin has not however reached peak euphoria, leaving potential room for extra progress.
This analysis incorporates the newest Bitcoin data, specializing in Realized Cap progress, long-term holder (LTH) distribution, ETF-driven liquidity migration, and key market indicators to search out out Bitcoin’s current part inside the cycle.
Latest Summary: Key Technical Insights and Market Implications
1. Bitcoin’s Bull Market Development Stays Fixed, nonetheless Growth Expenses Have Slowed
Bitcoin’s worth appreciation follows a logarithmic progress model, the place each cycle produces lower proportion good factors as a result of the market cap expands and liquidity deepens.
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