Cryptocurrency analyst Rekt Capital, Bitcoin 
$66,484He stated that the recent downward trend has ended and there may be a change in the market trend. The analyst, who reached 506,300 followers on the social media platform X, emphasized that Bitcoin’s rise above $ 69,000 last week was a sign of an imminent transition to the bull market.
Important Developments in Market Trend
Rekt Capital stated that the downward trend that has been continuing since March has come to an end. He stated that Bitcoin’s weekly closings were above critical resistance levels and this indicates the sustainability of the rise.
According to the analyst, Bitcoin breaking the red resistance zone in the downward channel may signal the beginning of a new uptrend. The possibility of this resistance turning into a support level is remarkable for investors. Rekt Capital states that Bitcoin has finally broken its long-term downward trend.
Is a New Bull Market Near?
The analyst thinks that this rise may open the door to a new bull market for Bitcoin. If this scenario happens, not only Bitcoin but the entire cryptocurrency market will be positively affected. This development may create significant opportunities for investors.
Future Expectations and Recommendations for Investors
Considering that Bitcoin is currently trading at $67,181, analysts’ predictions attract the attention of investors. Rekt Capital stated that Bitcoin tested the old resistance area and formed a new support. If this test is successful, Bitcoin may start a new upward movement.
The analyst stated that Bitcoin making a historical break and rising to all-time highs may indicate a new cryptocurrency cycle. Investors should follow these changes in the market closely and shape their strategies accordingly. Bitcoin’s potential rise could also have positive effects on the overall cryptocurrency market.
Bitcoin’s downtrend appears to be coming to an end. BTC breaking the $69,000 level could be a sign that a new bull market is approaching. These developments may change investors’ perspective on the market and cause them to re-evaluate their strategies.
Disclaimer: The information contained in this article does not constitute 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.
