Global #Bitcoin

Bitcoin is currently encountering resistance at its upper range, indicating potential short-term volatility. An analysis by Rekt Capital suggests that Bitcoin historically hasn't broken out of a re-accumulation range so soon after a halving event. With Bitcoin struggling against this high resistance, the cryptocurrency market appears uncertain.

Once again, meme coins are dominating the narrative as the crypto market enters the second phase of the bull cycle, overshadowing even Bitcoin's return to the $71,000 range.

In the midst of significant developments spanning various markets and industries, tangible assets such as gold, silver, and cryptocurrencies appear poised on the brink of a substantial bullish cycle, as indicated by a leading crypto trading expert who deems them essential components of investment portfolios.

A crypto analyst suggests that Bitcoin's return to $73,000 could signify the start of its acceleration to what he terms "escape velocity," drawing a parallel from astrophysics where it denotes the minimum speed required for an object to break free from a celestial body's gravitational pull without additional propulsion

Metaplanet, a Japanese investment firm taking cues from MicroStrategy's Bitcoin playbook, has witnessed an extraordinary surge in its stock price, soaring by 158% in the past week, making it the top gainer among all Japanese stocks.

Despite the prolonged duration of this process, even the most vocal critics of the cryptocurrency market have begun to participate, especially during the 'crypto winter'. However, 2024 has emerged as the year of institutional adoption of cryptocurrencies.