Cryptocurrency analysts suggest Bitcoin may have reached a significant market bottom, potentially signaling the start of a new bull market phase in 2025. Key technical indicators, including the Relative Strength Index (RSI) crossing above 50 and a buy signal from the Moving Average Convergence Divergence (MACD), point to a possible reversal from the prolonged bearish trend of 2024.
Analyst Jelle highlights the importance of Bitcoin's three-day RSI surpassing 50 for the first time since October 2024, indicating a shift towards bullish momentum. Additionally, the MACD's buy signal supports this potential momentum change. Market observer Isiah notes that Bitcoin's 50-week Simple Moving Average (SMA) at approximately $101,000 serves as a critical resistance level, with a breakthrough challenging the bearish market structure.
These technical developments, combined with on-chain metrics such as declining exchange reserves and increased long-term holder accumulation, suggest a potential market shift. However, analysts caution that broader market fundamentals, regulatory environments, and macroeconomic conditions must also be considered in assessing Bitcoin's future trajectory.
Analysts Indicate Bitcoin May Have Hit Market Bottom, Eye 2025 Bull Revival
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