Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak

Name	Symbol	Market	Market Cap ($)	Algorithm
Avalanche	AVAXUSD	Crypto	14,527,156,065	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Avalanche

AVAXUSD

Crypto

14,527,156,065

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	2.13	6.33%	35.77	35.78	35.80

Price Change

Price Change %

Current Price

Bid Price

Offer

2.13

6.33%

35.77

35.78

35.80

High Price	Low Price	Open Price	Prev. Close	52 Week Range
36.26	32.36	33.52	33.64	17.28 - 65.38

High Price

Low Price

Open Price

Prev. Close

52 Week Range

36.26

32.36

33.52

33.64

17.28 - 65.38

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	21:38:51	4.02	35.77	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

21:38:51

4.02

35.77

USD

Price x Volume	Volume	Base Symbol	Related Pairs
38,337,760.27	1,099,431.60	AVAX	AVAXEUR	AVAXGBP	AVAXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

38,337,760.27

1,099,431.60

Bitcoin Data Reveals Bulls Are Growing But Still Behind March 2024 Peak – Details

11/11/2024 7:30pm

NEWSBTC

Bitcoin has proven unstoppable, breaking all-time highs five times in six days and surging past the $82,000 mark. This latest milestone cements Bitcoin’s momentum as it pushes into uncharted territory, capturing the bulls’ attention and sparking new levels of optimism in the market. According to recent data from CryptoQuant, the number of bullish investors is growing rapidly, yet there’s reason to believe Bitcoin’s rally is far from over. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH – Time To Buy Altcoins? CryptoQuant’s insights indicate that BTC remains significantly below its March 2024 peak in several key metrics, which suggests that Bitcoin may still have room to climb within this cycle. This gap highlights that, despite the impressive gains, Bitcoin could still be building toward a true cycle peak, with potential gains yet to be realized. As investor sentiment strengthens and Bitcoin shows resilience at each new level, the market watches closely for signs of continued upward momentum. The next few days will be crucial in determining just how far Bitcoin can go as it solidifies its place in the next phase of this bull run. Bitcoin Bulls Enter The Room Bitcoin bulls have returned after eight months of sideways consolidation and significant selling pressure. With Bitcoin now trading 11% above its previous all-time high from March, market sentiment has turned decisively bullish, marking the start of a new trend. According to data from CryptoQuant analyst Axel Adler, the number of bullish investors in the market is steadily rising, signaling growing confidence. However, despite this uptick, the current rally lacks the frenzied demand seen during the March 2024 rally, when both retail and institutional interest reached euphoric levels. Adler’s data indicates that while bulls have a strong foothold in the market, the pace of accumulation by new retail and institutional participants is still relatively modest. This gap between the current market dynamics and those seen in March suggests that Bitcoin’s latest surge may be just the beginning rather than the end of its upward trajectory in this cycle. Related Reading: Cardano Skyrockets Over 40% – Funding Rate Suggests Further Upside The slower but steady rise in buying interest could indicate that Bitcoin is still in the early stages of this bullish phase, with room for further growth before reaching a cycle peak. For investors, this could present a promising opportunity. The subdued retail and institutional excitement level suggests that Bitcoin has yet to capture mainstream attention as it did during previous peaks. If demand rises gradually, Bitcoin may experience sustained growth over the coming months, potentially reaching new highs as momentum builds. BTC Setting New High Bitcoin recently set a new all-time high above $82,000, which many investors previously viewed as a likely local top. However, BTC’s price action remains robust, and it may be too soon to call for a definitive peak. Despite this upward momentum, a potential pullback to $77,000 could be on the horizon, as there is an unfilled gap in the CME futures market between $77,000 and $81,000—a technical level that often attracts price action as traders look to close the gap. This week will likely bring significant volatility as bulls control the market. With Bitcoin in uncharted territory, some investors may seize the opportunity to lock in profits, which could introduce selling pressure. Related Reading: Avalanche Nears Breakout – Top Analyst Sets $420 Target For AVAX This Cycle Nonetheless, the dominant trend is bullish, and a brief correction to $77,000 could provide a foundation for further upside. Bitcoin’s strength remains intact for now, but all eyes will be on how it responds to the volatility and whether it can maintain this high range or dip slightly before resuming its climb. Featured image from Dall-E, chart from TradingView

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	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

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