Bitcoin In ‘Euphoria Wave’ – How Long Until The Bull Run Ends?

Bitcoin In ‘Euphoria Wave’ – How Long Until The Bull Run Ends?

The price of Bitcoin appears to have returned to a choppy market condition, quashing any hopes of a breakout to new highs soon. However, the good news is that the current bull cycle may still not be over, even though it is taking a while for the premier cryptocurrency to resume its upward momentum.

Specifically, the latest on-chain observation shows that Bitcoin has been going through a “euphoria wave” over the past few months. Here’s the implication of this phase on the current bull run.

How Old Is The Current Bitcoin ‘Euphoria Wave’?

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Blockchain intelligence firm Glassnode revealed via a post on the X platform that Bitcoin has entered the euphoria phase of the market cycle. This on-chain observation is based on the “Percent Supply

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