Crypto analytics platform Bitcoin Vector is bullish on Bitcoin (BTC) as the flagship digital asset hovers just below the all-time high.
The analytics platform says on the social media platform X that Bitcoin is in the early stage of a full bull market after confirming a breakout.
According to the analytics platform, Bitcoin is in the “ignition phase” of a bull market, where the price typically gains momentum before the price explodes.
“The longer BTC stays in Full Bull [phase], the greater the gains.
We’re there again:
– Structure is firm,
– Momentum is rising,
– BTC just broke and stays stable, with a fresh ignition signal.
Full Bull Momentum awaits.”
In November of 2024, when Bitcoin witnessed a similar setup, BTC went up from around $70,000 recorded during the ignition phase to a then all-time high of $106,000 at the peak of the full bull phase, the analytics platform says.
According to Bitcoin Vector, the full bull market for the crypto king occurs when the Bitcoin Fundamentals Index (BFI) rises above 60. The BFI is an oscillator indicator calibrated from zero to 100 – the higher the number, the more bullish it is.
“- Price just hit a new all-time high at $123,000.
– BFI (Bitcoin Fundamentals Index) surged to 59 (above 60 turns full bull [market]).
– Our Optimal Strategy flipped fully bullish again
This breakout isn’t just hype = structure + fundamentals are aligned.”
Bitcoin is trading at $120,246 at time of writing.
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