🚀 **Bitcoin Heading for a New Bull Run? Here are the Requirements!** 🚀

- Bitcoin (BTC) has recently recorded a significant increase, but don't expect a full bull run right away!

- According to Woominkyu's analysis from CryptoQuant, a bull market usually starts when Bitcoin's market dominance decreases. Unfortunately, it's the opposite now.

- The decrease in BTC's dominance indicates that investors are starting to diversify into altcoins. So, we need an altcoin season first before BTC can have a bull run.

- Last week, BTC's dominance actually increased, from 54.7% to 58.2% according to CoinGecko data. The last time dominance was this high was in August 2021.

- Woominkyu said that BTC's dominance must decrease first before a bull run. But this could take a long time because there is a lot of capital entering the Bitcoin network.

- The launch of Bitcoin ETFs in the US and other markets has attracted many traditional investors. This is also what pushed the price of BTC above $73,000.

What do you think? Let's discuss in the comments column! 💬