New bull cycle? Bitcoin's return to $100K hints at significant price move
Bitcoin is on the verge of a potentially significant price move as investment volumes suggest a bull trend has been developing since late 2023. Bitcoin's realized cap has reached a new all-time high of $891 billion, reflecting growing investor confidence. This surge reflects increased capital inflows, pointing to a shift in the market dynamics that could signal the beginnings of a new bull cycle for Bitcoin. Despite concerns about profit-taking, which has seen averages of $1 billion daily, research indicates that the overall market remains balanced at around $100,000. Analysts suggest that this influx of buying interest shows demand-side strength, as sellers lock in profits while buyers continue to absorb available supply. The trend of capital inflows has persisted since October 2023, showcasing a sustained profit-driven regime that contributes positively to market signals.
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