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Despite the recent sideways movement in crypto markets, several key on-chain indicators suggest that Bitcoin's bull run is just heating up. Market watchers might find this early stage particularly compelling, as famous analyst ELI5 of TLDR points out. First, Bitcoin's market dominance stands robustly above 56%. Historically, bull markets begin with Bitcoin taking the lead. Traders have exited altcoins, marking a clear sign of consolidation. This high dominance is a precursor to bullish momentum. The Bitcoin MVRV Z score is another critical indicator. This metric, comparing current market value to historical averages, is well below the peak threshold of 6. Currently, it's less than half that, indicating substantial room for growth. The Puell Multiple, a measure of Bitcoin mined value against its annual average, aligns with bullish predictions. It hasn't surpassed 3, a figure typically seen at market peaks. Instead, it dropped below 1 post-halving in April, suggesting the rally is far from over. HODL Waves, which track the holding period of Bitcoin, present a similarly optimistic picture. Younger bands are seeing a decline, implying reduced selling pressure and potential for further price increases. Newcomers might be less committed, but the trend suggests more gains are on the horizon. Lastly, miner revenue per hash—a measure of miner profitability—remains a bullish signal. Despite the rising network difficulty, spikes in this metric have historically coincided with market peaks. The current trend suggests miners are still in a profitable phase, reinforcing the bull market narrative. In sum, these indicators paint a picture of a market poised for significant growth. While caution is always advised, the data suggests the bull run is far from its zenith. The seasoned Wall Street investor might find this an opportune moment to watch Bitcoin's next move closely.

PlanB, the enigmatic quantitative analyst, has ignited a frenzy in the cryptocurrency community with his latest prediction. According to him, Bitcoin is on the cusp of a seismic move reminiscent of its meteoric rise in 2017. This, he asserts, could be the last opportunity to accumulate Bitcoin below the elusive $70,000 mark. PlanB, known for his stock-to-flow (S2F) model, has an impressive track record. His model forecasts Bitcoin's price movements with uncanny accuracy. Now, he suggests that Bitcoin is flashing similar signals to those seen in 2017, just before it embarked on an epic bull run. The signs are hard to ignore. On-chain indicators and market sentiment align with PlanB's analysis. The recent consolidation phase, he argues, is a precursor to a significant upward movement. For those who have been waiting on the sidelines, this might be the final boarding call. Skeptics, of course, abound. They argue that past performance is no guarantee of future results. Bitcoin's volatility is legendary, and predicting its movements is a notoriously tricky game. But, the allure of potential profits keeps the crypto faithful glued to every word of analysts like PlanB. Ironically, the fear of missing out (FOMO) is almost palpable. Investors are torn between the risk of another dip and the tantalizing prospect of catching the next wave. As Bitcoin hovers tantalizingly close to $70,000, the tension in the market is electric. In the end, whether PlanB's forecast proves prophetic or not, one thing is clear: Bitcoin continues to captivate the imagination of investors worldwide. The digital gold rush is far from over. And for those with a taste for high-stakes speculation, this might just be the moment they've been waiting for. So, Wall Street, are you ready to roll the dice one more time?

Bitcoin traders are bracing for a new high, eyeing the $74,000 mark as selling pressure begins to ease. After weathering a turbulent market, it seems the digital currency is gearing up for a fresh rally. Market analysts, always keen to catch a whiff of optimism, are now cautiously optimistic about Bitcoin's trajectory. One would think that the roller-coaster of Bitcoin prices would deter investors. Yet, here we are, with predictions of Bitcoin scaling new heights. As selling pressure dwindles, the market sentiment shifts, albeit with the typical volatility one expects from cryptocurrencies. Bitcoin's resilience is being tested once again. It’s a classic case of déjà vu for seasoned traders. We've seen these bullish predictions before, only to be met with wild swings. But this time, the signs seem more convincing. Market data indicates a reduction in Bitcoin held by exchanges, signaling a drop in selling pressure. This might just pave the way for the anticipated surge. However, let's not pop the champagne just yet. The crypto market has a knack for surprising even the most astute analysts. While the technical indicators are promising, the external factors such as regulatory changes and macroeconomic conditions remain unpredictable. Traders are advised to keep their wits about them. In the midst of this, institutional interest in Bitcoin continues to grow. Large-scale investors, ever watchful for profitable opportunities, might find the current market dynamics favorable. Their participation could provide the necessary momentum for Bitcoin to break past the $74,000 barrier. Ultimately, while the path to $74,000 seems plausible, it’s wise to remember Bitcoin’s inherently volatile nature. For now, traders and investors alike can enjoy the ride, but with a healthy dose of skepticism. After all, in the world of crypto, the only constant is change.

In a remarkable turn of events, the Ethereum-Bitcoin ratio has plunged to its lowest point since April 2021. This decline, as reported by CoinDesk, raises eyebrows in the crypto community and beyond. Once hailed as Bitcoin's rival, Ethereum is now grappling with its identity and role in the ever-evolving digital currency landscape. Several factors contribute to this slump. First, Bitcoin's recent surge has overshadowed Ethereum's performance. The king of cryptocurrencies reclaimed its throne, buoyed by renewed institutional interest and a general flight to safety amidst economic uncertainty. Meanwhile, Ethereum struggled to keep pace, weighed down by scalability issues and delayed network upgrades. Adding to Ethereum's woes is the growing competition in the smart contract space. Rivals like Solana and Binance Smart Chain have made significant inroads, offering faster and cheaper alternatives. Ethereum's once-unassailable lead in decentralized applications (dApps) and DeFi is now under siege, leading to a redistribution of market share. But why does this ratio matter? For starters, it reflects market sentiment and investor confidence. A declining Ethereum-Bitcoin ratio suggests a shift in preference towards Bitcoin, the more established and perceived "safer" asset. It's a wake-up call for Ethereum enthusiasts who believed the flippening—Ethereum overtaking Bitcoin—was imminent. Moreover, this ratio serves as a barometer for the broader crypto market dynamics. It underscores the volatility and the rapid shifts in momentum that characterize the space. Investors are reminded that, despite the hype, underlying fundamentals and technological advancements still drive value. In conclusion, while the drop in the Ethereum-Bitcoin ratio is significant, it is not necessarily a death knell for Ethereum. The crypto world thrives on innovation and resilience. Ethereum's community and developers have proven their mettle before. The question is whether they can rise to the challenge again.

In a move that may raise a few eyebrows on Wall Street, Oklahoma has become the first state to pass a law protecting citizens' rights to self-custody Bitcoin. A bold step for a state not typically known for leading in tech innovation. According to Decrypt, this groundbreaking legislation, signed into law by Governor Kevin Stitt, ensures that residents can hold and use Bitcoin without interference from the government. The Oklahoma law marks a significant shift in how states are approaching cryptocurrency regulation. As digital currencies gain traction, traditional financial centers like New York and San Francisco may need to take note. Self-custody, a principle cherished by crypto enthusiasts, implies that individuals hold their own private keys, essentially controlling their own digital assets. Oklahoma’s law affirms this right, challenging the norms of centralized financial control. Some might say it’s ironic that a state known more for its oil rigs than its tech hubs is leading this charge. Yet, Oklahoma’s proactive stance could signal a broader trend in decentralized finance (DeFi). By embracing Bitcoin and self-custody rights, the state is positioning itself as a forward-thinking player in the evolving financial landscape. It’s a reminder that innovation can spring from unexpected places. The legislation also dovetails with Oklahoma’s growing interest in Bitcoin mining. The state’s low energy costs make it an attractive location for mining operations, which require significant electricity. With this new law, Oklahoma not only attracts miners but also ensures that citizens benefit from the Bitcoin they produce. It’s a win-win scenario, though some skeptics might question the environmental impact. Financial institutions might find this development intriguing. Banks and investment firms have long been wary of Bitcoin’s volatility and regulatory uncertainty. Oklahoma’s move could prompt a reevaluation of these positions, especially if other states follow suit. The idea that individuals have an inherent right to control their digital assets could reshape the financial industry's approach to cryptocurrencies. In the grand scheme, Oklahoma’s new law is a small step for one state but potentially a giant leap for Bitcoin self-custody rights nationwide. As the financial world watches, the irony is clear: while Wall Street debates the future of digital assets, Oklahoma is already staking its claim.