Analysis Company Warned: This Bull in Bitcoin is Very Different from Previous Bulls!

Crypto research company K33 Research stated that Bitcoin has surpassed the 100 thousand dollar level again with strong momentum, and that this rise is based on healthier foundations compared to previous breakouts.

According to the report, the absence of signs of overheating in the derivatives markets at the moment and the cautious nature of general market sentiment could pave the way for a more sustainable rally, while also potentially opening the door to new all-time high levels.

Bitcoin has returned to six-figure levels with a 9% increase last week. According to K33 Research, this rise is supported by broad-based spot demand and balanced positioning. Weekly spot trading volume increased by 51%, reaching an average of $3.9 billion per day. However, while this volume increase is noteworthy, the trading depth of Bitcoin is still limited compared to the periods when it previously surpassed $100,000.

K33 Research attributed the market weakness in May to the effects of "decreasing upward catalysts, holiday season, and tax period," noting that this summer will be different. The report stated, "This summer, the 'don’t sell in May, hold' strategy may be profitable."

On the other hand, K33 stated that the strategy known as "Trump Trade" has been effective behind the rise in the markets. The report said, "The main driver of the markets is Trump's policies. It appears that his crypto-friendly rhetoric and actions are creating upward pressure in the markets."