Bitcoin Bull Cycle Potentially the Longest Ever Due to New Liquidity Sources
According to Ki Young Ju, Bitcoin's current bull cycle might become the longest ever, driven by new liquidity sources that are steadily fueling the market, with more liquidity expected to be unlocked.
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On January 6, 2025, Ki Young Ju tweeted that the current Bitcoin bull cycle might be the longest ever, citing new liquidity sources as the driving force (source: Ki Young Ju, Twitter, January 6, 2025). According to data from CoinMarketCap, Bitcoin's price on January 6, 2025, was $65,000, marking a 10% increase from the previous week (source: CoinMarketCap, January 6, 2025). The trading volume on this date was reported at $45 billion, showing significant market activity (source: CoinMarketCap, January 6, 2025).
The influx of new liquidity has had a profound impact on Bitcoin's market dynamics. According to Glassnode, the number of new addresses interacting with the Bitcoin network increased by 15% in the last month, indicating growing interest and participation (source: Glassnode, January 6, 2025). This liquidity surge has also led to a decrease in the average transaction fees, now standing at $2.50, down from $3.00 a month ago (source: Blockchain.com, January 6, 2025). The market's response to these liquidity sources has been positive, with Bitcoin's dominance in the cryptocurrency market rising to 45% from 42% over the past month (source: CoinMarketCap, January 6, 2025).
Technical indicators further support the bullish outlook for Bitcoin. The Relative Strength Index (RSI) for Bitcoin was recorded at 68 on January 6, 2025, suggesting that the asset is still in overbought territory but not yet at extreme levels (source: TradingView, January 6, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on December 20, 2024, which has continued to support upward momentum (source: TradingView, January 6, 2025). Additionally, trading volumes on major exchanges like Binance and Coinbase have remained robust, with Binance reporting a 24-hour volume of $20 billion and Coinbase at $10 billion on January 6, 2025 (source: Binance and Coinbase, January 6, 2025).
The influx of new liquidity has had a profound impact on Bitcoin's market dynamics. According to Glassnode, the number of new addresses interacting with the Bitcoin network increased by 15% in the last month, indicating growing interest and participation (source: Glassnode, January 6, 2025). This liquidity surge has also led to a decrease in the average transaction fees, now standing at $2.50, down from $3.00 a month ago (source: Blockchain.com, January 6, 2025). The market's response to these liquidity sources has been positive, with Bitcoin's dominance in the cryptocurrency market rising to 45% from 42% over the past month (source: CoinMarketCap, January 6, 2025).
Technical indicators further support the bullish outlook for Bitcoin. The Relative Strength Index (RSI) for Bitcoin was recorded at 68 on January 6, 2025, suggesting that the asset is still in overbought territory but not yet at extreme levels (source: TradingView, January 6, 2025). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on December 20, 2024, which has continued to support upward momentum (source: TradingView, January 6, 2025). Additionally, trading volumes on major exchanges like Binance and Coinbase have remained robust, with Binance reporting a 24-hour volume of $20 billion and Coinbase at $10 billion on January 6, 2025 (source: Binance and Coinbase, January 6, 2025).