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Key Points
- Bitcoin’s bull run could slow down due to increasing volatility and the rise of alternative assets.
- Large HODLer support is crucial for maintaining the momentum of the bull run.
Bitcoin’s bull run is at a high risk of losing momentum due to the rise of alternative assets and increased volatility.
The support from large HODLers is crucial for maintaining a parabolic run.
Unprecedented Post-Election Cycle
This post-election cycle is unique. In the past, investors tended to shy away when Bitcoin entered a high-risk phase. However, this time, within a week of the election results, BTC has already posted three all-time highs, reaching $81K.
The current Bitcoin bull run signifies a shift within the financial landscape, advocating for digital assets as a hedge against inflation and centralized control.
Conditions for Continued Rally
Despite the bullish momentum, several key conditions must align to maintain the rally. Failure to meet these conditions could result in a bearish pullback, potentially erasing the gains made so far.
Recently, Bitcoin’s market share slipped to 58.5%, while Ethereum’s dominance rose by 3%. This trend suggests that altcoins are gaining traction, diverting attention from BTC. This shift usually happens when traders perceive Bitcoin has reached a market top, turning to altcoins as a more affordable alternative.
In every Bitcoin bull run, the initial momentum is fueled by Bitcoin itself. As the cycle nears its end, a significant capital influx is typically redirected into altcoins.
To keep BTC unchallenged above $80K, large HODLers need to perceive the current price as an attractive entry point. If they do, it will be difficult for bears to push for a correction.
The current market is experiencing strong bullish sentiment, expected to keep BTC within the $79K-$81K range. However, to reach $100K, it will be crucial for the aforementioned conditions to align. Otherwise, a pullback could be closer than expected, with bears regaining dominance across various metrics.