How Long Will Bitcoin’s Bull Market Last?

Bitcoin has reached the long-anticipated $100,000 mark, achieving a historic milestone in cryptocurrency while outperforming major global assets.

Despite declining global liquidity, Bitcoin’s price surged 32% in the past month, a stark contrast to the declines seen in oil, gold, and the S&P 500.

This remarkable performance has fueled optimism among analysts, who predict that Bitcoin’s current rally could extend through late 2025. Known as the “euphoria stage” by crypto enthusiasts, this phase signifies heightened optimism among long-term holders.

$BTC is entering the euphoria stage

You have maximum 12 months before the cycle top pic.twitter.com/984OYpbaRH

— Quinten | 048.eth (@QuintenFrancois) December 7, 2024

The Net Unrealized Profit/Loss (NUPL) metric, which gauges network-wide profit levels, suggests Bitcoin is firmly in this euphoric territory. Analysts like Quinten François highlight that the market cycle may peak within the next 12 months.

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Adding to the bullish outlook, the rally has occurred despite adverse liquidity conditions globally. James Coutts, a crypto strategist, notes that Bitcoin’s ability to set new all-time highs under these circumstances signals resilience, though he warns the rally’s momentum could hinge on shifts in global financial conditions. A potential easing of liquidity constraints could further fuel gains, while worsening conditions might prompt a temporary pullback.

Raoul Pal, a macroeconomic expert, suggests that Bitcoin’s correlation with global liquidity trends points to a possible local peak above $110,000 by early 2025. With market sentiment riding high and Bitcoin proving its strength, the stage appears set for continued volatility and potential new records in the months ahead.

Kosta Gushterov