Are We in a Full-Blown Bull Market?
Examining Hype, MVRV, and Supply Dynamics
Dear Bitcoiners,
Exciting times for Bitcoin! Pro-Bitcoin policies, the establishment of a U.S. Strategic Bitcoin Reserve, and rumors of other nation-states potentially front-running it are sparking major hype in the market! Historical data suggests that the move to $93k is only the beginning of a full-blown bull market. Whether we use cycle analysis or on-chain indicators, both show there’s still plenty of room for upside!
For months, we’ve been preparing and extensively discussing the recovery phase and the transition to a parabolic move, marking the early bull market and the full-blown bull market. The difference? The early bull market represents sustainable growth as Bitcoin gradually recovers to its previous ATH, while the full-blown bull market typically reflects rapid, unsustainable price gains. Here’s a link to previous discussions:
Full-Blown Bull Market: Must-See Charts
This rally appears to be driven largely by seasoned market participants, much of which is retail, as evidenced by the weekend pumps, along with MicroStrategy’s substantial purchases, also known for being executed on weekends.
