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Bitcoin Still in Bull Phase But Far From Euphoric Peaks: Bitfinex Alpha
The cryptocurrency market is currently witnessing a remarkable bull run, with several assets experiencing significant growth. Bitcoin (BTC) is no exception, having rallied 573% from its bear market lows of $15,487 in November 2022 and 130% on a year-to-date basis.
According to recent data provided by Bitfinex Alpha, the flagship cryptocurrency is still far from reaching euphoric peaks. In their latest report, analysts suggest that Bitcoin is currently in the middle of its bull phase, with historical data indicating it could peak in Q3 or Q4 2025, approximately 450 days after the April 2024 halving.
Institutional adoption and demand from exchange-traded funds (ETFs) have been instrumental in driving this growth. In fact, analysts believe that any corrections during this cycle will likely remain relatively small due to sustained buying pressure from institutional investors and spot ETF purchases.
Source: cryptopotato.com
