Bitcoin Price Regains $80,000, Restarting Bull Cycle Hopes

The Bitcoin bull cycle may be restarting after nearly a year of consolidation above $60,000. Jurrien Timmer, global macroeconomics director at Fidelity, believes this is a new four-year bull cycle.

Timmer's analysis relies on two signals: BTC's resistance above $60,000 and its improved performance against gold. The 50-week moving average also indicates a recovery, which has historically confirmed the start of a new bull cycle.

The correlation between Bitcoin and gold has become positive again, with previous reversals often accompanying a bottom point. This could indicate that investors are seeking rare assets like Bitcoin and gold in a high-cost capital environment.