Bitcoin’s Performance Hints Early Bull Market, Reflexivity Research Suggests

According to market analysis company Reflexivity Research, this year’s performance of Bitcoin (BTC) models the previous 4-year market cycles and could indicate an early rise of another bull market. BTC Reports! This week, the firm published a report investigating the factors behind the strong performance of the cryptocurrency in the second quarter, examining both the market structure and on-chain data. As stated in the report, Bitcoin’s current tailwinds for two critical events this year: the banking crisis surrounding Silicon Valley Bank (SVB) in March, and BlackRock’s Bitcoin Spot ETF application in June. Bulls like Michael Saylor predict higher levels as regulatory pressures shift capital away from altcoins, while Bitcoin now constitutes more than 50% of the total market value of cryptocurrency. The excessive interest in Bitcoin can be seen in the futures market, where Bitcoin’s perpetual futures “clearly differentiate” from Ethereum‘s perpetual futures. Increased interest in Bitcoin, especially from the […] The post Bitcoin’s Performance Hints Early Bull Market, Reflexivity Research Suggests appeared first on COINTURK NEWS.