Cryptocurrency analyst Rekt Capital believes Bitcoin (BTC) is on the verge of entering a bullish phase.
The analyst explained that Bitcoin is currently in a re-accumulation phase and is nearing a parabolic phase of its cycle.
Rekt Capital suggests that, based on historical patterns, Bitcoin could be just weeks away from surpassing its all-time high of around $73,800. He points out that typically, around 214 days after a halving event,
Bitcoin begins a new upward trend. According to his analysis, this timeline indicates that Bitcoin may be on the brink of breaking out to new highs and entering a period of price discovery in a couple of months.
The analyst also predicts that the peak of the bull market in this cycle could occur around September 2025. Drawing from previous cycles, he notes that after a halving, it usually takes between 518 and 546 days for Bitcoin to reach its peak.
For instance, the 2020-2021 cycle took 546 days to hit the bull market peak, while the 2016-2017 cycle took 518 days. This historical pattern suggests a similar timeline for the current cycle.
Metaplanet is aggressively expanding its Bitcoin holdings through an unconventional $5.4 billion capital raise, positioning itself as a leading BTC proxy in Asia.
BlueBird Mining Ventures, a London-listed firm traditionally focused on gold, is making headlines after announcing it will liquidate its gold reserves and begin accumulating Bitcoin as a treasury asset.
Bitcoin tumbled sharply today, shedding more than 3.5% in a matter of hours and briefly flirting with the critical $100,000 level.
Bitcoin is treading water near $105,000, but pressure is building on both sides of the trade as macro forces tighten.