🚨🚨Bitcoin’s Bull-Bear Indicator Flips Ultra-Bullish: Rally Incoming? 📈
➡️Bitcoin Bull-Bear Market Cycle Indicator Turns Ultra-Bullish 🚀
➡️A Brief Dip Sparks Bearish Signal ⚠️
The Bitcoin bull-bear market cycle indicator has flipped to an ultra-bullish stance after briefly flashing bearish signals during Bitcoin's recent dip. This marks the first bearish signal from the indicator since January 2023, following the FTX collapse.
➡️Indicators Signal Bull Market Rebound 📈
As Bitcoin's price plunged to lows not seen since February, many on-chain cyclical indicators hovered near the borderline. However, they have now shifted back to signaling a bull market. CryptoQuant’s CEO Ki Young Ju emphasized the bullish sentiment in an Aug. 9 post, while the pseudonymous trader PlanB confirmed, "Bitcoin is still in a bull market."
➡️ "Crypto Black Monday" and Price Recovery 💰
The bear signal appeared as Bitcoin’s price dipped below $50,000 on Aug. 5, marking the first time it fell below this critical level since February—a day now dubbed "Crypto Black Monday." Despite this, Bitcoin has since rebounded, trading above $60,000. The Crypto Fear & Greed Index also mirrored the recovery, moving from an "Extreme Fear" reading of 17 on Aug. 6 to a more neutral 48.
➡️Analysts Divided on the Path Forward 🤔
Analysts remain divided, with some predicting a major bull run on the horizon, while others urge caution. Markus Thielen of 10x Research suggests waiting for Bitcoin to drop into the low $40,000s for an optimal bull market entry, while veteran trader Peter Brandt draws parallels with the 2015-2017 halving bull market cycle, hinting at another potential rally.
➡️A Bull Run on the Horizon? 💥
Is this the start of Bitcoin’s next major surge? Only time will tell, but the signs are looking bullish.comment what you think 🤔
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