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Bitcoin’s Latest Surge Highlights Renewed Investor Confidence
Bitcoin – The crypto market is showing renewed optimism as Bitcoin (BTC) and Ethereum (ETH) reclaim significant price levels following last week’s market dip. Analysts and traders are highlighting bullish signals that could indicate the continuation of the broader uptrend.
Bitcoin Hits Four-Day High Amid Market Rebound
On Monday morning, Bitcoin surged to a four-day high of $112,350, erasing last week’s losses. The asset now sits at a critical support-turned-resistance zone, which analysts say must be cleared to reignite the bull market.
The September correction saw BTC drop 13%, dipping just below $109,000 last week. Despite this retreat, experts remain optimistic. PlanB, creator of the Stock-to-Flow model, stated on Sunday: “I think the Bitcoin bull market has not ended and will continue. I don’t know until when, or how high. It could also be a long, steady uptrend, without FOMO + crash.”
Analyst Zynx reinforced the sentiment, noting that Bitcoin has historically doubled its gold-equivalent price every cycle, often exceeding expectations. “I would say that $300k is becoming increasingly likely. It’s impossible to give a timeframe, but I’m expecting $151k to be crossed within the next 6 months.”
Meanwhile, Dan Tapiero, co-founder of 50T Funds, reminded investors that “the bull market in Bitcoin has not started yet,” referencing Bitcoin’s price in gold terms compared to five years ago. Benjamin Cowen, founder of ITC Crypto, also pointed out that Bitcoin closed its weekly candle above the bull market support band, drawing parallels to September 2020, when the market saw two weeks of upward movement followed by two weeks of consolidation.
Trader Tara analyzed Fibonacci retracement levels, noting that the first target has already been reached in this latest move, with $114,300 set as the next level following a potential pullback.
The Bitcoin Fear and Greed Index has also returned to a neutral reading of 50, after spending the previous week in fear territory, suggesting market sentiment is stabilizing and potentially paving the way for renewed bullish momentum.
Ethereum Reclaims Key Psychological Levels
Ethereum mirrored Bitcoin’s bullish momentum, reclaiming the $4,000 psychological level on Monday. Investor Ted Pillows noted: “I’m not long-term bearish on ETH. The asset rallied almost 250% from its bottom, so a correction is expected. I think the Ethereum correction will be over in a few weeks. After that, ETH will rally above $10,000.”
Crypto trader Daan Crypto Trades echoed the sentiment, observing that Ethereum’s weekly candle closed above previous cycle highs, driven by a strong effort from bulls and a late Sunday push. This suggests that Ethereum is regaining strength and may continue its upward trajectory alongside Bitcoin.
Market Outlook: Bullish Trends Continue
The market’s current momentum indicates a resumption of bullish conditions for major cryptocurrencies. With Bitcoin hovering above $112K and Ethereum surpassing $4,000, analysts are monitoring key resistance levels and technical indicators to gauge the strength of the ongoing uptrend.
Investors and traders are encouraged to watch support and resistance zones, Fibonacci retracement levels, and on-chain data, which collectively suggest that both Bitcoin and Ethereum may continue to consolidate gains before pushing higher.
While the crypto market remains inherently volatile, the combination of neutral sentiment on the Fear and Greed Index and technical recoveries underscores a potentially strong start to the next phase of the bull cycle.
