Bitcoin's Current Cycle Sees A 656% Surge, Matching Market Maturation Pace

Bitcoin BTC/USD, the leading cryptocurrency globally, has recorded a 656% surge in its ongoing cycle.

As per data analytics company Glassnode, Bitcoin saw a rise of 1,076% from 2015 to 2018, a gain of 1,007% from 2018 to 2022, and in the current cycle that commenced in 2022, Bitcoin has already ascended 656%.

Even with Bitcoin’s considerably larger market capitalization today, pegged at $2.08 trillion, its performance in this cycle is nearly on par with the previous ones.

This implies that the growth in demand is matching Bitcoin’s maturation, indicating a consistent investor interest.

Also Read: Decade-Old Bitcoin Whale Emerges, Transfers $207.51 Million BTC With Nearly 112,000% Profit

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Glassnode highlights a unique dual aspect in the current Bitcoin cycle. There is a simultaneous occurrence of increased long-term holder (LTH) spending volumes and a larger volume of coins aging into maturity. This new market structure, where LTH wealth seems more resilient than in previous cycles, is likely influenced by the advent of U.S. Spot Bitcoin ETFs and increased institutional participation.

Bitcoin’s price has seen some volatility, dropping to a low of $100,377 on June 5, then rallying to a high of $110,651 on June 9, before profit-taking took place. 

At the time of writing, Bitcoin was trading at $105,061, maintaining above the psychologically significant $100,000 mark, which signifies strong investor confidence.

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