Analysts are buzzing with excitement: the Bitcoin bull run is closer than ever! With BTC nearing the $70,000 mark, optimism is at an all-time high. Positive trends from Asia and the US presidential elections are fueling this crypto surge, as Octoberâdubbed "Uptober"âhas seen Bitcoin's momentum intensify.
Whales are back in action, aggressively accumulating BTC, marking the first time since the COVID-19 outbreak that such activity has been seen. On-chain data shows Bitcoin supply on exchanges is at a six-year low, while spot Bitcoin ETFs in the US are experiencing consistent inflows.
Crypto experts like Michaël van de Poppe believe BTC is currently in the "consolidation phase," or the so-called boring zone, but this might be the calm before the storm. Altcoins are also catching the wave, as the longest bear market in history seems to be nearing its end. A sensational bull run may just be around the corner!
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