Grayscale Signals Potential Bitcoin Bull Run as Key Price Level Holds
Bitcoin may be entering the early stages of a new bull cycle, according to Grayscale, as market data suggests a possible bottom has already formed.
The firm points to improving price action and stronger investor positioning, with bitcoin rebounding nearly 20% since early February. A key indicator is the breakeven level around $74,000, where many recent buyers have returned to neutral positions. This alignment between market price and investor cost basis typically reduces sell pressure and signals a more stable market structure, often seen during the transition into bullish phases.
If bitcoin continues to rise and more holders move into profit, analysts believe it could confirm the first phase of a broader uptrend. With strong support forming between $65,000–$70,000, the market is now closely watching whether momentum can break higher and sustain a new bullish cycle.
Clever Robot News Desk 24th April 2025
