Analysts agree: “Bitcoin bull is very close”

Optimistic predictions continue to come for Bitcoin (BTC), which has reached $69,000. Analysts are of the opinion that the BTC rise will continue.

Positive data from Asia and the US presidential elections form the basis of the crypto rise. The October rises, called “Uptober”, intensified as BTC approached an important level. BTC is about to test the psychological resistance level at $70,000. The strong outlook in BTC has also paved the way for altcoins.

Crypto analysts evaluated the latest outlook in BTC. Analysts predicted that the long-awaited bull will start soon.

Positive signals from analysts for Bitcoin

Bitcoin ($BTC ) entered the radar of whales with its potential rise. According to on-chain data, whales are aggressively accumulating BTC for the first time since the COVID-19 outbreak. During this accumulation phase, it was seen that the BTC supply on central exchanges fell to its lowest level in the last six years. On the other hand, money inflows continue in spot Bitcoin ETFs traded in the US. Analysts who interpret all this positive data expect a sensational bull period for BTC.

Crypto analyst Michaël van de Poppe stated that $BTC is in the consolidation phase, defined as the boring zone. The analyst claimed that money inflows have begun in altcoins and that the longest bear market in history is nearing an end.

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