Bitcoin 'Bull Market' Seen Developing — Market Talk

Bitcoin is retreating slightly after climbing as high as $87,000, which is the highest since January. The push toward $90k has analysts calling for the start of a new "bull cycle" in bitcoin. "Bitcoin has crossed above its 365-day moving average - now at $80.5K - and trades at $86K," says analysts with CryptoQuant in a note. "This crossover is the definitive technical signal that has marked the start of Bitcoin's bull markets in past cycles." The firm adds that $90k is the new resistance level for bitcoin. Bitcoin is down 1.4% to $85,729, while ethereum falls 1.4% to $2,746, XRP rises 1.4% to $1.55, and solana slides 1.7% to $117. ([email protected])