Bitcoin, that most enigmatic of digital currencies, has apparently decided to play along with the idea of a “bull market,” much like a cat deciding to ignore the fact it’s supposed to be asleep. Analysts, armed with spreadsheets and an alarming amount of caffeine, argue that BTC‘s recent jaunt above $70,000 (and subsequent flirtation with $78,000) is less a blip and more a full-blown economic dance party. Whether this is a genuine bull market or merely a bear in a tuxedo remains to be seen, but the crowd is certainly dressed for the occasion.
Those optimistic souls pointing to “improving market structure” and “growing signs of buyer control” seem to be under the impression that Bitcoin is now the captain of its own fate. One might suggest they check the weather forecast before investing, but no-these analysts are convinced that BTC’s ability to rise amid “major bearish events” is proof it has entered a bullish phase. A phase, one suspects, where it will eventually remember to stop rising and just… exist.
Bitcoin Strength Suggests Fresh Bull Market Cycle
Bitcoin’s recovery above $60,000-a price last seen before it “reached an ATH in 2025” (a date that may or may not be a typo for 2024)-has led Ishmael Asad of Bitwise to declare, with the gravitas of a man who once lost a bet on a coin toss, that “Bitcoin is clearly now in a bull market phase.” This is presumably a scientific conclusion, though one wonders if he’s ever tried to predict the weather in the city of Ankh-Morpork.
The latest macro backdrop-easing geopolitical tension and a mysterious “stability outlook”-has also been cited as a reason for optimism. Rajiv Sawhney of Wave Digital Assets noted that the Iran ceasefire extension has made investors feel “relieved enough to buy Bitcoin.” One imagines this is similar to feeling safe enough to juggle chainsaws after a brief lull in the apocalypse.
Analyst Says BTC Bottom Signals New Bull Market
Zach Pandl of Grayscale, a man who likely has a PhD in “This Time It’s Different,” claims Bitcoin has “established a bottom near $60,000.” This is the cryptocurrency equivalent of a sinking ship claiming it’s just “resting on the seabed for a while.” Pandl also mentions a “durable base” around $63,000, which sounds less like financial advice and more like a DIY project from the Discworld.
The Bitwise analyst then explains that the “realized price” of Bitcoin is around $74,000, meaning recent buyers have “reached break even.” A phrase that makes one want to reach for the nearest bottle of something fortifying. Or perhaps a calculator. Or both.
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2026-04-24 21:56