Bitcoin’s (BTC) recent price rally from $16,500 to $25,000 can be attributed to a short squeeze in the futures market and recent macroeconomic improvements. However, while prices increased, data suggests many interested buyers (including whales) were left on the sidelines.
The recent rally to $25,000 shared many similarities with the 2019 bear market rally, which saw a 330% surge in Bitcoin’s price to highs around $14,000 from the November 2019 low of $3,250. The pair recently rose 60% from its November 2022 low.
tackles historical trading levels
A stablecoin supply ratio oscillator is close to the 2019 top
Data highlights a crucial bull-bear pivotal point