BitcoinThe price of has been making sharp moves over the last seven days, with an intense battle between buyers and sellers at its current level of around $60,000. It is unclear who will win this fight. Popular cryptocurrency analyst CryptoCon shared his thoughts on this uncertainty, stating that Bitcoin is on the verge of a major cycle. The analyst believes that Bitcoin will enter a major bull run in 2025.
Analyst Predicts Bull Run for 2025
Analyst CryptoConhas recently made important assessments about Bitcoin’s price action and future. According to him, now is not the right time to exit Bitcoin positions. The analyst predicts a bull run in 2025. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
CryptoCon said, “Getting out of Bitcoin now means getting out before everything gets too exciting! We are facing the same resistance and support levels in the Puell Multiple cycle and after the cycle. You are now in the last valley before the new high mountain. The calm before the storm, the storm to the upside!” Analyzing past cycles, CryptoCon believes that Bitcoin will make a big splash with a significant price increase in 2025.
Bitcoin’s Open Interest Explodes
For 2025, the analyst suggests bull run Whether this scenario will come true remains to be seen, but Bitcoin’s open interest has exploded in the last 24 hours.
Derivatives investors increased their positions immediately following the release of the FOMC meeting minutes yesterday, adding more than a billion dollars to their positions.
While open interest is not a metric used to predict future price movements, it is often a sign of impending volatility. In the last 24 hours BTCregained the $60,000 level, resulting in the liquidation of $125 million worth of derivative positions. Interestingly, the majority of these liquidations ($69 million) were from investors holding long positions.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
