Analysts believe Bitcoin has left the post-halving "danger zone", signalling an incoming bull run.
The recent price increase from $56,000 to $64,000 suggests Bitcoin is bouncing back from the bullishness.
Bitcoin also shows strong support levels and renewed inflows into the ETFs, indicating growing investor confidence.
Metrics like the 200-day moving average reaching a new high support this outlook
The MVRV indicator points towards Bitcoin still being undervalued, and Ali thinks Bitcoin still sits in a buy zone.
Bitcoin has been on the crypto community’s radar for weeks now, considering its recent break above the $60,000 zone and its attempt to break above $65,000.
According to analysts, however, the future prospects on Bitcoin for the medium to long terms remain bullish, considering how the flagship cryptocurrency has left the so-called "danger zone".
Moreover, Bitcoin's stability above $60,000 also indicates that investors are "reaccumulating", and there has never been a better time to jump on the bandwagon.
Historically speaking, the weeks before and after Bitcoin halvings are usually the worst for it in terms of volatility. However, according to recent calls from analysts, this cycle appears to be ending.
Rekt Capital drew attention to this in a recent tweet, in which he noted that while Bitcoin's post-halving window is still very open, the effects of said window have already happened.
The Bitcoin danger zone is over
This means that Bicoin’s most recent rebound from the $56,550 zone indicates a recovery, as well as the end of the aforementioned “danger zone”.
Moreover, Bitcoin's most recent attempts to break above $65,000 show the strength of the bulls so far, considering it came amid concerns about the current U.S. economic stagflation.
According to recent insights from investor, Anthony Pompliano in a new tweet, Bitcoin's 200-day moving average just hit a new all-time high.
Moreso, on Tuesday, Grayscale’s spot Bitcoin ETF ($GBTC) just saw its first day of inflows in 78 days according to data from Farside, indicating that the crypto market is returning to bullish control.
"Don't get lulled to sleep by Bitcoin going sideways. The long-term thesis is as strong as ever" Pompliano concluded.
This outlook was further corroborated by analyst, Ali, who in a recent tweet, commented that despite Bitcoin's most recent rally from from $57,000 to $64,000, the MVRV 90-Day Ratio still shows that the flagship cryptocurrency remains in a premium buy zone.
“Bitcoin’s MVRV Momentum has helped identify buy zones since the bull run started,” the analyst explained in an earlier tweet "When the MVRV dips below the 90-day average, it signals a buying opportunity."
"[It all] seems like a good setup for $BTC to reach escape velocity", analyst Willy Woo chimed in a tweet of his own “[bullish divergence] with lots of room to run”.
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