Bitcoin (BTC)’s current market trend has caught investors’ attention, as it is similar to the bull run of 2015-2017. Encouraged by optimistic forecasts and historical similarities, Bitcoin’s future appears bright as it mirrors the patterns of past bull run periods.
In March 2024, Bitcoin hit an all-time high of around $74,000 before experiencing a sharp correction of more than 20%, the largest market drop since the FTX crash in November 2024. Despite this, Bitcoin almost rebounded from this low, reaching $72,000 by May 21 and currently trading at around $69,000. On-chain analytics platform Glassnode noted that this correction pattern is similar to the 2015-2017 bull run.
During 2015-2017, the Bitcoin market had no futures trading and was primarily driven by spot trading. The launch of the US spot Bitcoin exchange-traded fund (ETF) and subsequent inflows have solidified strong market fundamentals similar to those of the early days. This comparison is critical because the early Bitcoin market relied on organic growth and core demand rather than speculative trading. The current focus on spot trading suggests that market fundamentals are returning and may indicate more sustainable growth.
The Impact of ETFs
Last week, ETF inflows surged to an average of $210 million per day, highlighting a strong re-accumulation phase despite the halving event, which resulted in mining-related selling pressure of about $32 million per day. While ETF inflows have slowed slightly recently, the overall trend remains positive.
Data shows that ETFs saw a net inflow of $122.1 million this week, reflecting strong demand from buyers in the Bitcoin market. Santiment's on-chain analysis shows that Bitcoin wallets holding at least 10 BTC have increased their holdings by 154,560 BTC in the past five months. This accumulation pattern by large wallet holders is a key market sentiment indicator that is often associated with a bullish phase.
What potential altcoins are worth buying at the moment?
1. ARKM
Arkham is a blockchain analytics platform that uses artificial intelligence to de-anonymize on-chain data. Its two main components are the analytics platform and Intel Exchange. The analytics platform provides insights into entities, exchanges, funds, and tokens, allowing users to examine assets, transactions, and relationships.
ARKM stands out for its comprehensive coverage and multi-chain integration. It uses its AI system ULTRA to aggregate data from various blockchains, giving users a comprehensive view of the crypto ecosystem. Arkham provides entity-based intelligence by linking real-world identities to addresses, helping with trading, compliance, research, and portfolio tracking. As an ERC-20 token, Arkham is secured on the Ethereum blockchain through a proof-of-stake consensus mechanism.
2. BGB
The price of Bitget Token (BGB) has seen a modest increase of 5.31% over the past day. The resistance level to watch is around $1.38 as it has been tested multiple times throughout the day without breaking out. A successful move above this level could signal further bullish momentum and establish a new support area above this price.
While prices are rising, declining volume could indicate a lack of strong buying pressure behind the price increase. This divergence generally warrants caution as it could indicate that the price increase is not backed by strong trading activity, which is ideal for a sustained rise.
Bitget Token also saw growth in its market capitalization, rising by 2.31% to $1,841,966,841. The improvement in market valuation is consistent with the overall positive sentiment in the trading environment. The volume/market cap ratio is 4.52%, which is active relative to the market cap size, which is normal for cryptocurrencies that experience significant price fluctuations. The current market dynamics and trading activity indicate bullish sentiment.
3. INJ
Injective has seen impressive growth, up 261.76% year-to-date (YTD) and 2296.23% since launch. The project has attracted more users and projects with its high speed and low fees. Injective also burns a percentage of protocol fees every week, and as supply decreases, the price of the token may rise
Recently, Injective launched a layer 3 chain on Arbitrum to enhance its infrastructure and interoperability. This layer 3 development features the inEVM network and allows developers to create customizable chains using Arbitrum's Orbit toolkit. This integration supports connections between Ethereum, Solana, and Cosmos, making Injective more versatile for developers.
Currently, INJ is trading 127.12% above its 200-day Simple Moving Average (SMA) of $11.02, which is positive compared to its token sale price. Offering a very attractive opportunity!
at last:
The bull market has been only a bull market for BTC until today
It has been four years since March 12, 2020. Altcoins have been silent for four years.
It’s been four years. Do you know how everyone has been spending these four years?
We are living on coarse food and we are under tremendous pressure.
We have been waiting for the once-in-four-year event of the 10,000-coin-flight
We firmly believe
Everything is going in the best direction!
The clarion call for this attack must be the interest rate cut!
When the day comes when millions of coins are flying, I hope no one will break their thighs.
It’s a bull market right now, and things are surging. We have the opportunity to share passwords every day.
I still say that, if you don’t know what to do in the bull market, click on my avatar and follow me, I will share the bull market spot planning and contract password for free.
I need fans, you need references. It's better to pay attention than to guess.
