{"id":582869,"date":"2024-02-28T21:00:29","date_gmt":"2024-02-28T21:00:29","guid":{"rendered":"https:\/\/www.wncen.com\/?p=582869"},"modified":"2024-06-11T08:08:27","modified_gmt":"2024-06-11T08:08:27","slug":"analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/news\/analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet\/","title":{"rendered":"Analyst Labels Bitcoin Rally Strongest Pre-Bull Cycle Yet"},"content":{"rendered":"

The entire cryptocurrency space is fueled with excitement as the price of Bitcoin rallied<\/a> today, demonstrating immense resilience, reaching the $59,000 threshold and even further in the past 26 months.<\/p>\n

Bitcoin Rally Kicks Off The Strongest Pre-Bull Cycle So Far<\/span><\/h2>\n

Bitcoin is currently in the limelight as the crypto asset continues to rally, leading to several analysts identifying the surge as the start of the “biggest bull cycle ever.”<\/span><\/p>\n

Analyst and trader Crypto Jelle has <\/span>labeled<\/span><\/a> the recent uptick as the “strongest start to a new cycle” as his analysis examines the strength of <\/span>BTC<\/span><\/a>‘s surge.<\/span><\/p>\n

Related Reading: Bitcoin Fast Approaching $60,000 As BTC F&G Index Hits \u2018Extreme Greed\u2019 \u2013 Details<\/a><\/div>\n

Jelle claims this resulted from Bitcoin’s latest “break out from the 0.618 Fibonacci retracement.” According to the analyst, “this marks the first time” the asset has made this kind of move “before the <\/span>Bitcoin Halving<\/span><\/a> event happens.”<\/span><\/p>\n

\"Bitcoin\"
BTC showing the strongest pre-bull cycle | Source: Crypto Jelle on X<\/a><\/figcaption><\/figure>\n

He also claims that with the ongoing rally, it seems like the market is “in for a new regime,” he believes things will play out “differently” in the market from how they usually do.<\/span><\/p>\n

The post read:<\/span><\/p>\n

This is the first time Bitcoin breaks that 0.618 Fibonacci retracements before the halving event even takes place. By far the strongest start to a new cycle, ever. Looks like we are in for a new regime, where things work a little different than how they used to.<\/span><\/p><\/blockquote>\n

The analyst claims that a shift in the narrative is ushering in a “new era of dynamics in the cryptocurrency landscape.” As a result, “exciting moments await” the space in the future.<\/span><\/p>\n

Crypto Jelle <\/span>declared<\/span><\/a> that nothing can stop Bitcoin at the moment. “With BTC rising by another 2% in the past few hours, there seems to be no stopping it right now,” he stated.<\/span><\/p>\n

Additionally, most of yesterday’s gains occurred outside the Exchange-Traded Funds’ trading hours. However, the analyst is waiting to see if they will “force boomers to pursue price.”<\/span><\/p>\n

BTC ETFs See Massive Inflow<\/span><\/h2>\n

Research company BitMEX <\/span>reported<\/span><\/a> that Bitcoin Spot ETFs have seen increased adoption, witnessing a massive surge in daily inflow. Data from the platform shows that <\/span>ETFs<\/span><\/a> have witnessed a significant inflow of 10,167 BTC valued at $576.8 million.<\/span><\/p>\n

Related Reading: Bitcoin Spot ETFs: Issuers Set New Record As Weekly Inflows Cross $2.2 Billion<\/a><\/div>\n

BitMEX underscored that <\/span>Blackrock’s iShares BTC ETF (IBIT)<\/span><\/a> made up $520 million of the total inflow. Consequently, this marks the highest inflow the company has seen since the products were approved.\u00a0<\/span><\/p>\n

So far, Blackrock’s asset holdings have risen to over 141,000 BTC, and its net inflow sits above $6.5 billion. Currently, Bitcoin is trading at $59,254, indicating a rise of over 4% in the past 24 hours.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC’s price trends to the upside on the daily chart. Source: BTCUSDT on Tradingview<\/strong><\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The entire cryptocurrency space is fueled with excitement as the price of Bitcoin rallied today, demonstrating immense resilience, reaching the $59,000 threshold and even further in the past 26 months. Bitcoin Rally Kicks Off The Strongest Pre-Bull Cycle So Far Bitcoin is currently in the limelight as the crypto asset continues to rally, leading to several analysts identifying the surge as the start of the “biggest bull cycle ever.” Analyst and trader Crypto Jelle has labeled the recent uptick as the “strongest start to a new cycle” as his analysis examines the strength of BTC‘s surge. Related Reading: Bitcoin Fast Approaching $60,000 As BTC F&G Index Hits \u2018Extreme Greed\u2019 \u2013 Details Jelle claims this resulted from Bitcoin’s latest “break out from the 0.618 Fibonacci retracement.” According to the analyst, “this marks the first time” the asset has made this kind of move “before the Bitcoin Halving event happens.” He also claims that with the ongoing rally, it seems like the market is “in for a new regime,” he believes things will play out “differently” in the market from how they usually do. The post read: This is the first time Bitcoin breaks that 0.618 Fibonacci retracements before the halving event even takes place. By far the strongest start to a new cycle, ever. Looks like we are in for a new regime, where things work a little different than how they used to. The analyst claims that a shift in the narrative is ushering in a “new era of dynamics in the cryptocurrency landscape.” As a result, “exciting moments await” the space in the future. Crypto Jelle declared that nothing can stop Bitcoin at the moment. “With BTC rising by another 2% in the past few hours, there seems to be no stopping it right now,” he stated. Additionally, most of yesterday’s gains occurred outside the Exchange-Traded Funds’ trading hours. However, the analyst is waiting to see if they will “force boomers to pursue price.” BTC ETFs See Massive Inflow Research company BitMEX reported that Bitcoin Spot ETFs have seen increased adoption, witnessing a massive surge in daily inflow. Data from the platform shows that ETFs have witnessed a significant inflow of 10,167 BTC valued at $576.8 million. Related Reading: Bitcoin Spot ETFs: Issuers Set New Record As Weekly Inflows Cross $2.2 Billion BitMEX underscored that Blackrock’s iShares BTC ETF (IBIT) made up $520 million of the total inflow. Consequently, this marks the highest inflow the company has seen since the products were approved.\u00a0 So far, Blackrock’s asset holdings have risen to over 141,000 BTC, and its net inflow sits above $6.5 billion. Currently, Bitcoin is trading at $59,254, indicating a rise of over 4% in the past 24 hours.\u00a0 Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":576170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,91154,75737,7720,91762,1119,1144,78790,91678,8379,83456,91201],"class_list":["post-582869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-bitcoin-spot-exchange-traded-funds","tag-bitmex-research","tag-blackrock","tag-blackrocks-ishares-bitcoin-etf","tag-btc","tag-btcusd","tag-btcusdt","tag-crypto-jelle","tag-etfs","tag-fibonacci-retracement","tag-ibit"],"acf":[],"yoast_head":"\nAnalyst Labels Bitcoin Rally Strongest Pre-Bull Cycle Yet<\/title>\n<meta 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/www.wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Labels Bitcoin Rally Strongest Pre-Bull Cycle Yet","url":"http:\/\/www.wncen.com\/news\/analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.wncen.com\/news\/analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet\/"},"thumbnailUrl":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/02\/iStock-1255216496.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/02\/iStock-1255216496.jpg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving","bitcoin spot exchange-traded funds","bitmex research","blackrock","blackrock's ishares bitcoin etf","btc","btcusd","btcusdt","crypto jelle","etfs","fibonacci retracement","ibit"],"dateCreated":"2024-02-28T21:00:29Z","datePublished":"2024-02-28T21:00:29Z","dateModified":"2024-06-11T08:08:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Labels Bitcoin Rally Strongest Pre-Bull Cycle Yet\",\"url\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.wncen.com\\\/news\\\/analyst-labels-bitcoin-rally-strongest-pre-bull-cycle-yet\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/iStock-1255216496.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/iStock-1255216496.jpg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving\",\"bitcoin spot exchange-traded funds\",\"bitmex research\",\"blackrock\",\"blackrock's ishares bitcoin etf\",\"btc\",\"btcusd\",\"btcusdt\",\"crypto jelle\",\"etfs\",\"fibonacci retracement\",\"ibit\"],\"dateCreated\":\"2024-02-28T21:00:29Z\",\"datePublished\":\"2024-02-28T21:00:29Z\",\"dateModified\":\"2024-06-11T08:08:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.wncen.com\/wp-content\/uploads\/2024\/02\/iStock-1255216496.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/582869"}],"collection":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/comments?post=582869"}],"version-history":[{"count":0,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/posts\/582869\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media\/576170"}],"wp:attachment":[{"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/media?parent=582869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/categories?post=582869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wncen.com\/wp-json\/wp\/v2\/tags?post=582869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}