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New Stage in the Bitcoin Bull Market! Dow Theory Shows Where the Price is Going! - Coin Bulletin
Bitcoin has gained 129.2% in the last 12 months, surpassing $100,000 and is now in the late stages of a bull market, according to analysts. However, it is still said to have upward potential.
According to CryptoQuant observers, Bitcoin is currently entering the distribution cycle, meaning that while new retail investors enter the market, large players are taking profits.
According to the Dow Theory, markets move cyclically between accumulation and distribution phases. The year 2022 was a distribution phase for Bitcoin, followed by an accumulation cycle that started in 2023 and continued throughout 2024. Now, Bitcoin is entering the redistribution phase, but this doesn't mean that the price won't rise further.
Bitcoin's low funding rates and lack of an overly leveraged market indicate that there is still room for price discovery. Analyst Axel Adler Jr emphasizes that the market is currently not "overheated" and that Bitcoin could rise further in favorable macroeconomic conditions.
The 'fair price' of Bitcoin is positioned around $87,990, and institutional investors continue to buy BTC without slowing down. MicroStrategy increased its total holdings to 471,107 BTC by purchasing an additional 10,107 Bitcoin in early 2025. These purchases by the company are interpreted as an indication that institutional demand continues to remain strong.
Entering a distribution phase for Bitcoin does not mean the price has reached its peak. Experts suggest that especially Trump's global influence could extend this bull run for a few more quarters.