Bitcoin Could Be Nearing a Short-Term Bull Run?

- While Bitcoin has yet to break above $70,000 as expected, data from the Coinbase Premium Index suggests a short-term bullish potential. 📈

- According to CryptoQuant analysis, when the daily moving average crosses above the weekly moving average, it typically creates a “golden cross” and triggers a short-term rally. Currently, the daily moving average has temporarily crossed above the weekly line, signaling a bullish trend.

- Bitcoin is currently at $67,000, a key support level. Analysts at Kaiko also highlighted a negative Kimchi Premium, which could signal an upcoming bull run despite the Korean market’s decline.

- Additionally, BTC’s on-chain retail trading activity has rebounded after four months of decline, with sub-$10,000 trading volume up 13% over the past 30 days, indicating renewed interest from retail investors. 🚀