Bitcoin (BTC) has been experiencing a prolonged bullish phase exceeding 1000 days, which has caught the attention of analysts and traders. Prices have been fluctuating around $118,000, with experts predicting potential further increases.
Bitcoin’s Bullish Cycle
Bitcoin continues its bullish cycle, now surpassing 1000 days. At the $118,000 level, experts suggest that a CME futures gap fill might drive Bitcoin higher. According to Merlijn The Trader, 'the gap fill at $118,000 is the magnet.'
Future Predictions
Based on observations by Juan Rodríguez, historical trends indicate Bitcoin could continue to rise for another two months. However, he warns that past trends do not guarantee the future, as cycles can change rapidly.
Whale Activity
Recent data shows that the number of wallets holding at least 100 BTC has surged significantly. This indicates that large investors are demonstrating increasing interest in Bitcoin as a long-term investment. Crypto Rover highlights the importance of tracking large investors' activities, as they may signal future price changes.
Bitcoin continues to attract attention from both retail and institutional investors. Current market conditions and whale activity could significantly impact its future price movements.
