The Bitcoin bull market continues
According to reports from Cointelegraph, the vast majority of Bitcoin investors hold unrealized profits of up to $2.5 trillion.
Meanwhile, market participants generally believe that the Bitcoin market has the capacity to absorb the current selling pressure and is in a new round of price consolidation.
"The next technical move is the anticipated breakout followed by a pullback," said well-known trader Rekt Capital in his recent weekly analysis of BTC/USD on the X platform.
Rekt Capital explained that Bitcoin is trying to break out of the downward channel that has lasted for several weeks since mid-May.
He predicts this bull market may only have a few months left, after which the market will experience a phase of sharp upward movement and trend reversal.
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