Bitcoin Enters Early Bull Cycle, Analysts Predict

The DeFi Report has issued an analysis stating that Bitcoin may be entering the early stages of a new bull cycle. According to their assessment, this phase is characterized by speculative activity among crypto-focused investors and the establishment of support around the 50-week moving average at approximately $80,000.

The platform notes that this period historically lasts about 9 to 12 months, with rising Bitcoin dominance from its lows, the return of new users, increased DeFi incentives and marketing spending, and the launch of new projects as other indicators to watch during the early bull period.

During the second phase of the bull cycle, known as the 'wealth creation' period, The DeFi Report expects a more pronounced rise in Bitcoin, increased interest from mainstream media, and an accelerated influx of new investors. Demand for DeFi loans, leverage usage, stablecoin supply, and on-chain activity are expected to increase.