Historic 90-Day Upward Trend
Bitcoin ($BTC) is creating confusion in the crypto market right now. It climbed above $82,000 last week, but then dropped sharply to around $77,000. This price action has split traders into two camps: some think a bull run is starting, while others suspect it’s just a bounce during a bear market.
What Makes This Moment Interesting
According to analyst Matthew Hyland, Bitcoin has held an upward trend for 90 consecutive days. That’s unusual, especially when you look at past bear markets. Hyland argues that in Bitcoin’s history, there has never been a rally lasting 89 days during a bear market. This, he says, looks more like a bull market rally than a bear market one.
He points out that since Bitcoin tested $60,000, it has climbed steadily. The break above the long-term resistance level of $77,000 also seems significant, he says. In previous cycles, such a breakout signaled the start of a bull run. Hyland’s interpretation is cautious but leans optimistic: “The recent Bitcoin rally looks more like a bull market rally than a bear market rally.”
What Must Happen Next
Not everyone is convinced yet. Another analyst, known as Filbfilb, thinks we need more evidence. He says Bitcoin must break above the weekly supertrend resistance level, which sits between $88,000 and $90,000. That would be a clear signal. In his view, the last two bear markets ended only when we saw a weekly increase of over 20% and a break above that supertrend level.
So for now, Bitcoin is in a strange place. The 90-day upward trend is something we haven’t seen before during a bear market. That might mean the market is shifting. But until it clears the $88,000 to $90,000 zone, some analysts remain cautious. It’s a dilemma for sure, and I think it shows how hard it is to call the next move.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
