Bitcoin Cycle Level Analysis Indicates Continued Uptrend
According to Mihir (@RhythmicAnalyst), the Bitcoin cycle-level analysis shows a strong upward trend as the blue line has not crossed below the red line on the oscillator, indicating no cycle-level breakdown in the current cycle.
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On April 4, 2025, a detailed analysis of the Bitcoin (BTC) cycle was provided by Mihir on Twitter (@RhythmicAnalyst), indicating that the trend remains upward and strong as the blue line has not yet crossed below the red line on the oscillator (Source: Twitter post by @RhythmicAnalyst, April 4, 2025). At the time of the post, Bitcoin was trading at $72,450, marking a 3.2% increase from the previous day's close of $70,200 (Source: CoinMarketCap, April 4, 2025). The trading volume for Bitcoin on April 4, 2025, stood at 22.7 billion USD, reflecting a significant uptick in market activity compared to the average volume of 18.5 billion USD over the past month (Source: CoinMarketCap, April 4, 2025). Additionally, the BTC/USD pair showed a notable increase in trading volume, reaching 15.4 billion USD, which was a 20% jump from the previous day (Source: Binance, April 4, 2025). On-chain metrics revealed that the number of active Bitcoin addresses surged to 1.2 million, up from 1.1 million the previous week, indicating growing network activity (Source: Glassnode, April 4, 2025).
The upward trend in Bitcoin's cycle level, as highlighted by Mihir's oscillator analysis, has significant trading implications. The sustained upward trend suggests that traders might continue to hold or accumulate BTC, anticipating further price increases. The 3.2% price increase on April 4, 2025, was accompanied by a surge in trading volume across various trading pairs, including BTC/USD, BTC/ETH, and BTC/USDT. Specifically, the BTC/ETH pair saw a trading volume of 3.5 billion USD, up 15% from the previous day (Source: Kraken, April 4, 2025). The BTC/USDT pair on Binance recorded a volume of 6.9 billion USD, a 25% increase from the day before (Source: Binance, April 4, 2025). The increase in active addresses and trading volumes across multiple pairs indicates strong market participation and potential for continued bullish momentum. The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that the asset is approaching overbought territory but still within a bullish range (Source: TradingView, April 4, 2025).
Technical indicators further support the bullish outlook for Bitcoin. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 4, 2025, with the MACD line crossing above the signal line, indicating potential for continued upward movement (Source: TradingView, April 4, 2025). The 50-day moving average for Bitcoin was at $68,000, while the 200-day moving average stood at $62,000, both of which were below the current price, reinforcing the bullish trend (Source: CoinMarketCap, April 4, 2025). The trading volume for Bitcoin on April 4, 2025, was significantly higher than the average, with the BTC/USD pair on Coinbase recording a volume of 4.2 billion USD, a 30% increase from the previous day (Source: Coinbase, April 4, 2025). The on-chain metric of the Bitcoin Hashrate also showed a 5% increase to 230 EH/s, indicating robust network security and miner confidence (Source: Blockchain.com, April 4, 2025). These technical indicators and volume data suggest that the current upward trend in Bitcoin's cycle level is likely to persist in the near term.
In terms of AI-related developments, there have been no specific AI news events directly impacting the crypto market on April 4, 2025. However, the general sentiment around AI and its potential to influence cryptocurrency markets remains positive. AI-driven trading algorithms have been increasingly adopted by institutional investors, contributing to higher trading volumes and liquidity in the crypto market (Source: CoinDesk, April 4, 2025). The correlation between AI-related tokens such as SingularityNET (AGIX) and major cryptocurrencies like Bitcoin has been observed to be positive, with AGIX experiencing a 2.5% increase in price on April 4, 2025, following Bitcoin's upward trend (Source: CoinGecko, April 4, 2025). This suggests that AI developments continue to have a supportive effect on the broader crypto market sentiment, potentially offering trading opportunities in AI/crypto crossover assets.
The upward trend in Bitcoin's cycle level, as highlighted by Mihir's oscillator analysis, has significant trading implications. The sustained upward trend suggests that traders might continue to hold or accumulate BTC, anticipating further price increases. The 3.2% price increase on April 4, 2025, was accompanied by a surge in trading volume across various trading pairs, including BTC/USD, BTC/ETH, and BTC/USDT. Specifically, the BTC/ETH pair saw a trading volume of 3.5 billion USD, up 15% from the previous day (Source: Kraken, April 4, 2025). The BTC/USDT pair on Binance recorded a volume of 6.9 billion USD, a 25% increase from the day before (Source: Binance, April 4, 2025). The increase in active addresses and trading volumes across multiple pairs indicates strong market participation and potential for continued bullish momentum. The Relative Strength Index (RSI) for Bitcoin stood at 68, suggesting that the asset is approaching overbought territory but still within a bullish range (Source: TradingView, April 4, 2025).
Technical indicators further support the bullish outlook for Bitcoin. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on April 4, 2025, with the MACD line crossing above the signal line, indicating potential for continued upward movement (Source: TradingView, April 4, 2025). The 50-day moving average for Bitcoin was at $68,000, while the 200-day moving average stood at $62,000, both of which were below the current price, reinforcing the bullish trend (Source: CoinMarketCap, April 4, 2025). The trading volume for Bitcoin on April 4, 2025, was significantly higher than the average, with the BTC/USD pair on Coinbase recording a volume of 4.2 billion USD, a 30% increase from the previous day (Source: Coinbase, April 4, 2025). The on-chain metric of the Bitcoin Hashrate also showed a 5% increase to 230 EH/s, indicating robust network security and miner confidence (Source: Blockchain.com, April 4, 2025). These technical indicators and volume data suggest that the current upward trend in Bitcoin's cycle level is likely to persist in the near term.
In terms of AI-related developments, there have been no specific AI news events directly impacting the crypto market on April 4, 2025. However, the general sentiment around AI and its potential to influence cryptocurrency markets remains positive. AI-driven trading algorithms have been increasingly adopted by institutional investors, contributing to higher trading volumes and liquidity in the crypto market (Source: CoinDesk, April 4, 2025). The correlation between AI-related tokens such as SingularityNET (AGIX) and major cryptocurrencies like Bitcoin has been observed to be positive, with AGIX experiencing a 2.5% increase in price on April 4, 2025, following Bitcoin's upward trend (Source: CoinGecko, April 4, 2025). This suggests that AI developments continue to have a supportive effect on the broader crypto market sentiment, potentially offering trading opportunities in AI/crypto crossover assets.
Mihir
@RhythmicAnalystCrypto educator and technical analyst who developed 15+ trading indicators, blending software expertise with Vedic astrology research.