Bitcoin has shown significant growth, surpassing the $100K mark, prompting analysts to debate the current market cycle.
Bitcoin's Rise and Current Market Analysis
Bitcoin's price surged by 129% over the past year, surpassing $100,000. CryptoQuant's Ki Young Ju suggests the market is in a late-stage bull run.
Institutional Investor Impact
MicroStrategy recently purchased 10,107 BTC, raising its holdings to 471,107 BTC, demonstrating institutional confidence.
Accumulation and Distribution Phases
According to Dow Theory, the market shifted to a distribution phase, with prices stabilizing after an accumulation period. However, retail investor participation increased since mid-2024.
Bitcoin's current trajectory hinges on macroeconomic factors and regulation, with the $87,990 level serving as technical support, highlighting the importance of institutional investors for long-term stability.