Bitcoin Euphoria Takes Hold: What’s Next For BTC?

Bitcoin ($BTC) is officially in its euphoric phase, with 99.3% of UTXOs currently in profit.

This optimism has sparked widespread happiness among holders, as such phases historically last 3–12 months—though exceptions like the bull trap of November 2021 serve as cautionary tales.

This phase began just two weeks ago, and the market now faces a critical juncture. Shorting at this stage could either mark a smart call at the top or a costly move during the peak of a parabolic bull run.

Large Bitcoin wallets have seen minimal net outflows throughout the year, with significant holders continuing to accumulate, even at current price levels. This behavior signals robust confidence in Bitcoin’s long-term potential, reinforcing the view that institutional and whale investors remain bullish.

Bitcoin Price Mirrors Patterns From Previous Bull Run

Bitcoin’s price action is currently mirroring the patterns observed in its last two bull cycles. After surpassing its previous all-time high, $BTC has spent the past week consolidating. Historical data suggests that another breakout could be imminent, potentially targeting the $150,000 mark. However, if history repeats, this rally may be followed by a sharp correction of around 30%.

Adding to the bullish narrative, Bitcoin spot ETFs have seen significant inflows. On November 18, total net inflows reached $255 million, with BlackRock’s IBIT ETF leading at $89.325 million and Fidelity’s FBTC ETF close behind at $59.954 million.

With strong institutional interest, sustained whale accumulation, and a euphoric market atmosphere, Bitcoin seems poised for continued upward momentum. However, caution is warranted, as rapid gains often precede sharp corrections. Whether $BTC reaches new heights or faces a temporary setback, the next few days will be pivotal for the king of cryptocurrencies.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Source: https://nulltx.com/bitcoin-euphoria-takes-hold-whats-next-for-btc/