Bitcoin is unstoppable: Bull run gains momentum

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Bitcoin (BTC) is breaking record after record with Donald Trump's victory in the US elections and the Fed's interest rate cut.

The BTC price reached a milestone for the first time in history, exceeding 77,000 dollars. The leading cryptocurrency touched 77,200 dollars on October 8th. This rise also paved the way for the leading altcoin, Ether (ETH), to surpass 3,000 dollars during the day.

According to Coinglass data, altcoins have achieved double-digit gains as the price of BTC reaches record levels. Funding rates on crypto exchanges are in neutral territory compared to March. Analysts suggest that the funding rate indicates that the rally could continue.

Fundstrat's digital asset strategy head Sean Farrel said, "There is no sign that the rise cycle in funding rates will end."

"Bitcoin's parabolic rise has not yet begun"

The outlook in the cryptocurrency market shows that there is no obstacle to the rise of Bitcoin (BTC). Analysts evaluating the positive trend in global markets predict that BTC can easily exceed $100,000.

BlockTower's founder and CIO Ari Paul emphasized in a post on X that the bull market will continue. Paul used the following statements;

"We are in the seventh stage of the bull market or we have started a third of the rally."

Paul claimed that market participants are preparing for a 6 to 12-month rally. The crypto expert pointed out that institutional investors are driving the market instead of individual investors. It is known that spot Bitcoin ETFs continue to perform positively. BlackRock continues to break records in ETFs.

According to Paul, there will be an increase in money inflow into futures and individual investor interest in the coming days. Emphasizing that the bull market has just begun, Paul stated that more trading will take place in the final stages of this upward cycle.

Paul recorded the following;

This stage, that is, the seventh stage will take us to $90,000 to $125,000. Then two more stages and the latter ones are usually the most parabolic.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

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