Here’s Why The Bitcoin Bull Run Isn’t Done Yet

Here’s Why The Bitcoin Bull Run Isn’t Done Yet

CNBC’s Brian Kelly builds the Bitcoin bull case by referencing a divergent metric that, in the past, foreran the calm before a price storm.

Uncertainty reigns, and market sentiment is extremely fearful. As such, the narrative of a return to crypto winter is strong. However, Kelly’s analysis leads him to believe it’s time to buckle up for a breakout.

Bitcoin Bull Run Still On Track

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From peak to trough, a 54% drop from its $65k all-time high was sufficient to spook the market. Short-term investors exited their positions, at a loss, for fear of further downside.

Bitcoin’s flat performance hasn’t helped the matter since its price bottomed at $29k. For the last two weeks or so, BTC has been range-bound on the daily close between $35k and $41k.

Source: BTCUSD on

Although the start of this week resulted in consecutive daily gains, a rejection near $38k on Tuesday has added to the narrative that

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