Bitcoin’s price has been experiencing significant movements over the past seven days, and currently, at around $60,000, there is an intense battle between buyers and sellers. The outcome of this struggle remains uncertain. Popular crypto analyst CryptoCon shared his thoughts on this uncertainty, stating that Bitcoin is on the brink of a major cycle. The analyst believes Bitcoin will enter a significant bull run in 2025.
Analyst’s Bull Run Prediction for 2025
Analyst CryptoCon has recently made important evaluations about Bitcoin’s price movement and future. According to him, now is not the right time to exit Bitcoin positions. The analyst predicts a bull run will occur in 2025.
CryptoCon stated, “Exiting Bitcoin now means exiting before all the excitement begins! We are facing the same resistance and support levels in the Puell Multiple cycle and after the cycle. You are currently in the last valley before the highest mountain. It’s the calm before the storm, an upward storm!” By examining past cycles, CryptoCon believes Bitcoin will make significant price gains in 2025.
Explosion in Bitcoin’s Open Interest
Whether the analyst’s bull run scenario for 2025 will materialize remains to be seen, but Bitcoin’s open interest has exploded in the last 24 hours.
Derivative traders increased their positions immediately after the FOMC meeting minutes were released yesterday, adding more than a billion dollars to their positions.
Although open interest is not a metric used to predict future price movements, it often signals approaching volatility. In the last 24 hours, BTC regained the $60,000 level, leading to the liquidation of derivative positions worth a total of $125 million. Interestingly, the majority of these liquidations ($69 million) were from investors holding long positions.
