Crypto Express

07/16 05:39

Bitcoin bull run still has room to run

As noted by Analyst, this has been Bitcoin’s most aggressive bull run yet. Weekly gains clocked in at 12%, and OI soared to an ATH of $87 billion, making profit-taking almost an inevitable.

In fact, Nic Puckrin, crypto analyst and founder of “The Coin Bureau,” told AMBCrypto that the recent shakeout is a greed-driven reset. With leverage stretched, the market needed to cool before the next leg higher. 

He noted,

“Unlike previous all-time highs, future funding rates are still at normal levels, meaning the risk of cascading liquidations is low. On top of this, interest rates are still high, and the money printers haven’t even been turned on yet.”

Puckrin continued,

“This rally is still driven by institutional capital, while the typical signs of retail involvement – soaring search traffic and crypto app rankings – are absent. And I don’t see them getting involved in a meaningful way until we get to around $150,000 and the FOMO kicks in.”From a macro lens, BTC has rallied this far without a single rate cut, meaning true liquidity hasn’t even kicked in yet. Add to that the absence of retail FOMO, and Bitcoin’s bull run may still be ahead.

The Retail-to-Institutional Address Ratio supports this view.

The ratio has now dropped to a yearly low, coinciding with Bitcoin’s climb to $120,000. This signals that institutions are driving the rally, while retail investors are largely still sidelined.

In short, Bitcoin’s bull run is far from over.

With risk appetite intact, retail euphoria absent, and a macro backdrop that could welcome rate cuts before year-end, BTC appears poised to ignite its next leg toward new all-time highs.

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