Українська
Русский
English
Did the recent Bitcoin surge trigger a bull market? Or are we still in a bear market? Experts explain!
Despite the ongoing war between the United States and Iran, Bitcoin ($BTC) showed a strong recovery, rising above the $76,000 level.
However, although discussions about a possible $BTC rally intensified after its pullback to $74,000, Wintermute stated that it is still too early to say so.
The cryptocurrency market maker Wintermute said that Bitcoin survived the initial sell-off, but the overall trend has not yet changed.
In their weekly report, Wintermute analysts expressed a cautious view, stating that Bitcoin withstood the initial selling pressure in the bear market, but it is still too early to fully assess a potential trend reversal.
In its analysis, Wintermute noted that Bitcoin showed relative strength compared to other assets thanks to reduced selling pressure and confirmed inflows from institutional investors. The current market structure appears more positive than in recent months.
At this stage, the company stated that market conditions are becoming more favorable, citing recent positive reversals in the $BTC Coinbase Premium Index, increased ETF inflows, and institutional over-the-counter purchases as examples.
Wintermute noted that institutional demand for Bitcoin was particularly concentrated around the $60,000 level, while retail investors have taken a wait-and-see approach.
It is still too early to talk about a Bitcoin bull trend
However, Wintermute emphasizes that it is difficult to conclude that the current situation represents a full bull market, and suggests maintaining a cautious approach going forward.
At this stage, the company believes that the $74,000 and $80,000 levels will likely act as significant resistance levels for Bitcoin.
Analysts also noted that from a cyclical perspective, previous bear markets required approximately 400 days to reach their peak and bottom, while the current cycle reached its bottom in less than 200 days.
For now, Wintermute believes that this bear market may be shallower and shorter than previous ones, but emphasized that prices could still be influenced by the Federal Reserve’s interest-rate policy and news related to the energy sector and geopolitical risks in the Middle East.
See also: "PayPal’s stablecoin will be available in 68 more countries"
