No, Bull Run is probably not over yet. Bitcoin has withdrawn from its record highs, and some alternative cryptocurrencies (altcoins) have seen profit. However, this seems to be a typical Bull market release where analysts closely monitor the Bitcoin preaching around $ 125,000.
BTC hit record high on Sunday
Over the weekend, BTC pushed over $ 125,000 in a narrative sign for dealers who praise a lighter monetary and fiscal policy in the United States based on the ongoing government’s shutdown. The market probably expects lighter policies across the globe, including Japan, where the new prime minister is partial against Abenomics, an aggressive easing strategy implemented by former Prime Minister Shinzo Abe.
The total crypto market value increased to approx. $ 4.07 trillion and raised fears and greed index to 64. Although it is an elevated reading, it falls well below euphoric level, indicating that there is more risk of taking the market. This gives way to Bullish follow -up without needing to blow out gearing to get there.
The driver under the cap is still similar to spot demand and ETFs rather than a one-day clamp, especially when BTC’s movement came on a Sunday that is typically a day of thinner liquidity and lower leverage.
Less than usual liquidations of a relatively small $ 65 million on BTC-tracked futures provide credibility with this opinion. However, a quick retreat Monday still suggests that some dealers are not willing to hold on to the profits for a long time.
Profit in Altcoins, BNB stands out
BTC prices are down over 1% over the last 24 hours with and Cardano’s ada leading loss among major. Xrp, bnb -chain’s bnb and trons trx was down as much as 2%while ether Lost just over 0.5%.
The outlier on a weekly basis remains BNB, about $ 1,184 and up more than 17% over seven days, which tells us that rotations still happen in ecosystems when the basic asset has a bid.
What next?
The increasing amount of dry powder or stableecoin supply supports the Bullish case in BTC and the wider crypto market.
Reports show stableCOin supply expanded with a record amount last quarter-CA. $ 45 billion, with about two-thirds of new issues at Ethereum and that’s the dry powder you want to see if the market should continue to go higher.
In addition, the background of the ongoing US government’s shutdown that can delay data and push central banks against caution, and you get a tale that is clean in accordance with the bullish image of price diagrams.
Focus on $ 125,000
Two experts read mirroring this setup. Nick Ruck at LVRG hits the move as a hedge bend tied to institutional currents and inflation anxiety in a take that is consistent with ETF assignments that re-accelerate on dips.
Alex Kibesikevich at FXPRO notes the technical breakout and warns that long -term holders have been selling near these levels since July. Both can be true. An interval break invites to supply and a trend survives only if fresh demand absorbs it.
“The next step could well be an attempt to update historical heights approaching $ 125K,” noted the Kibesikevich. “At the same time, it’s worth paying attention to the activity of long -term sellers who have been actively selling near these levels since July: We may see a new episode of selling increasing.”
The trader in me is inclined to treat $ 125,000 as a magnet and a test. Well it quickly and fails, we know that the supply is still responsible. Grinding into it while funding remains sensible and it probably gives way.
