Ki Young Ju, CEO of CryptoQuant, noted that Bitcoin’s current market behavior mirrors the mid-2020 period when it traded around $10,000. Currently, Bitcoin is priced at approximately $68,000, maintaining a range between $65,000 and $70,000 for several weeks.
Despite low volatility, Bitcoin sees robust on-chain activity, with about $1 billion accumulated daily by whale wallets. This scenario resembles mid-2020, when high on-chain activity and over-the-counter deals preceded a significant price surge.
Grayscale’s recent report also indicates Bitcoin is in the “middle of the bull run,” akin to the 2021-2022 cycle. Historically, Bitcoin shows significant returns 300-500 days post-halving; with the latest halving on April 19, major price movements may be expected in around 260 days.
This pattern suggests strategic accumulation and long-term planning could be crucial for investors.
