Based

Time

Bitcoin’s price has been on a wild ride for the past seven days. At the current level of around $60K, buyers and sellers are fighting an obvious battle, and it’s unclear who will emerge victorious. 
A popular cryptocurrency analyst chimed in on the uncertainty, believing that Bitcoin is on the verge of a massive cycle. 
<h2 id="bitcoin-bull-run-in-2025">Bitcoin Bull Run in 2025?</h2> 
CryptoCon, a well-known technical analyst on X with more than 100,000 followers, has recently shared his thoughts on the current price action and on what’s next for the world’s largest cryptocurrency. 
He believes that now is definitely not the right time to exit Bitcoin positions because there will be a bull run in 2025. 
<blockquote>
 Leaving Bitcoin now is leaving before everything gets exciting! The same resistance, and same support on the Puell Multipple cycle after cycle. You’re in the last valley before the highest mountain. The calm before the storm, up that is! – Wrote the <a href="https://x.com/cryptocon_/status/1825922127360414062" data-wpel-link="external" target="_blank">analyst</a>.
</blockquote> 
<figure id="attachment_355300" aria-describedby="caption-attachment-355300" style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-scaled.jpeg" data-wpel-link="internal"><img class="size-full wp-image-355300" src="https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-scaled.jpeg" alt="" width="2560" height="1645" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-scaled.jpeg 2560w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-300x193.jpeg 300w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-1024x658.jpeg 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-768x494.jpeg 768w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-1536x987.jpeg 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-2048x1316.jpeg 2048w, https://cryptopotato.com/wp-content/uploads/2024/08/GVb6e8kWgAA5vF1-50x32.jpeg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 <figcaption id="caption-attachment-355300" class="wp-caption-text">
 Source: X
 </figcaption>
</figure> 
Based on his analysis of previous cycles, CryptoCon expects a bull run to take place in 2025. 
<h2 id="bitcoin-open-interest-surges">Bitcoin Open Interest Surges</h2> 
We have yet to see whether there’s a bull run coming in 2025, but <a href="https://cryptopotato.com/crypto-trading-academy-what-is-open-interest-in-bitcoin-futures-and-how-traders-use-it/" data-wpel-link="internal">Bitcoin’s open interest</a> has exploded throughout the past 24 hours. 
Derivatives traders have added more than a billion following the minutes from the FOMC meeting that were released yesterday. 
Open interest is not a metric that can be used to predict future price movements, but it’s usually a precursor to incoming volatility. 
In the past 24 hours, BTC has <a href="https://cryptopotato.com/trump-trade-bitcoin-pops-4-on-rumors-of-upcoming-rfk-dropout/" data-wpel-link="internal">managed to reclaim</a> the $60K level, triggering a combined total of $125 million worth of liquidated derivatives positions. Interestingly enough, most of these ($69M) were long traders. 
The post <a href="https://cryptopotato.com/time-to-sell-bitcoin-btc-not-according-to-this-analyst/" rel="nofollow">Time to Sell Bitcoin (BTC)? Not According to This Analyst</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Time to Sell Bitcoin (BTC)? Not According to This Analyst

Table of Contents

CryptoPotato_News

Other articles published on Aug 22, 2024

Arbitrum DAO Passes Major Proposal to Boost ARB Token With Staking

Brazil Approves Second Solana ETF While U.S. Approval Remains Uncertain

Cryptocurrency Industry Shatters Records with Unprecedented Political Donations in 2024 US Presid...

Bitcoin ETF Attracts Significant Investor Interest

Base Dawgz $DAWGZ Presale Scam: A Critical Warning for Investors. Source – AltcoinDaily

Binance Resumes Full Operations in India After Securing FIU Registration and Paying $2.25M Fine

Join our free newsletter for daily crypto updates!