Bull Market Reignited? Analyst Says Bitcoin Rally Mirrors June 2020 Setup
Bitcoin's price has surged above $100,000, currently trading at $103,527, with a 4.3% gain in 24 hours and a 33% increase over the past month. The price remains about 5% below its all-time high from January. Technical and on-chain signals indicate ongoing accumulation amid economic uncertainty and geopolitical activity. Market patterns resemble those from nearly five years ago, characterized by high volatility. Investor sentiment is shifting toward risk-on, driven by trade agreements and fiscal policies. Bitcoin's Growth Rate indicator has returned to bullish territory, reflecting this sentiment. Large-scale Bitcoin holders, or "whales," have accumulated approximately 41,300 BTC in the past month, indicating strategic positioning by institutional investors rather than retail speculation. This accumulation is supported by corporate resources and may create sustained demand pressure independent of market cycles.
