Crypto Dan
Crypto Market – It's Too Early to Talk About a Bull Cycle
Bitcoin remains within a typical bear cycle. Supporting this view, it is worth paying close attention to the negative trend in Funding Rates, which reflect sentiment in the futures market. For the market to transition into a bull cycle, a stronger rebound must emerge from the current range without any significant additional correction. However, there are currently no signs of that happening. For reference, at the bottom of the 2022 bear cycle, the market underwent a severe shock before eventually transitioning into a bull cycle. That said, it would be difficult to assume that this pattern will necessarily repeat itself. While the current price range is undeniably cheap from a cycle perspective, there still appears to be insufficient evidence to conclude that we are at the point of transitioning into a new bull cycle.