Bitcoin Rides the Bull Market Wave with New Highs

Key Points

1. Bitcoin is in the 'ignition phase' of a bull market, characterized by rising prices and new bullish signals.

2. A similar market structure was observed in November 2024, when Bitcoin's price rose from $70,000 to a peak of $106,000.

3. For Bitcoin to transition into a 'full bull market' phase, its Fundamentals Index (BFI) must exceed 60; it recently reached 59.

4. Bitcoin recently set a new all-time high at $123,000 and was trading around $120,246 at the time of publication.

5. Analysts recommend monitoring indicators like the BFI and market structure to gauge continued bullish momentum.