橙子Joyce

The “crypto winter” that has lasted nearly a year has come to an end, and this may mark what could be the strongest and longest bull run in cryptocurrency history.

Over the past 5 days, Bitcoin has gained more than 7%, and over the past 3 months its rise has approached 35%. From a technical standpoint, as long as the support level around $750,000 is held, bulls could push further into the $900,000 area.

This rebound comes against the backdrop of the Digital Assets Market Clarity Act failing to pass the Senate via a procedural vote. It breaks the simplistic logic that “legislative failure is a bearish signal,” and the market has begun reassessing the true impact of regulatory uncertainty.

Capital flows back: the core logic of crypto spring:

The key basis for the end of the “crypto winter” is not simply a price rebound, but a divergence between price and fundamentals.

During the recent period when crypto asset prices fell, the industry’s fundamentals did not deteriorate in tandem. On-chain activity increased, and large financial institutions such as BlackRock further participated in the digital asset market—forming a pattern of “cyclical declines in prices paired with structural improvements in fundamentals.”

It is expected that crypto asset prices may further catch up to changes in fundamentals later this year.

The $900,000 level becomes the next point to watch

On a longer time horizon, Bitcoin has still not fully exited the prior correction.

Bitcoin reached an all-time high of around $1.26 million in October last year, was then cut roughly in half, and fell to a low of about $576,000 in early July this year. Even with the strong rebound recently, the current price remains about one-third below the historical high.

This suggests that the current rebound is more like a repair phase coming out of a deep correction, rather than a confirmation that a new cycle’s all-time high has begun.

Whether Bitcoin can effectively break through the $900,000 mark will be a key observation point to test the “realness” of crypto spring:

If price meets resistance near $900,000 and pulls back, the market may need to reassess the sustainability of capital rotation;

If it breaks through on heavy volume, it will further strengthen the macro view that “the strongest and longest bull run in history” is underway.

Going forward, you can watch the Federal Reserve’s interest-rate path and where long-end U.S. Treasury yields are headed—they remain the core macro variables influencing crypto asset valuations.
——————We continue to invest via DCA in BNB, BTC, ETH, and SOL
$BTC

$BNB
$SOL

go

$Slow is fastMike