Bitcoin At $80,000, How Far Can This Dizzying Ascent Go?

This Sunday looks green in the market, Bitcoin, the world’s leading cryptocurrency, has crossed a new symbolic milestone on Coinbase, one of the major exchange platforms. This historic performance is part of a particularly marked bullish dynamic since the reelection of Donald Trump as President of the United States.

Since then, Bitcoin’s price has stabilized around $80 000, confirming the strength of this previously unexplored price level.

Renowned analyst Tuur Demeester quickly reacted on social network X, calling for restraint: “No reckless action is necessary, HODL does the work for you“.

This position is widely shared by James Check, lead analyst at Glassnode, who points out that despite these new peaks, the gap between the current price and the 200-day moving average remains “cooled off”, suggesting a healthy market progression.

A rally different from previous cycles

This increase is distinguished from previous ones by its very nature, according to several industry experts. Trader Cantonese Cat notes an important distinction: “This time, the rise is not due to leveraged positions, but to real spot demand“. This analysis suggests a stronger basis for the current valuation of Bitcoin.

Bitwise Invest CEO Hunter Horsley provides interesting insight into market psychology. According to him, the rising prices boost investor confidence in the success of the Bitcoin project, creating a positive feedback loop. “This dynamic suggests a likely continuation of the bullish trend“, he asserts.

The particularly strong progress of recent days, with successive thresholds at $73,679, $76,000 then $80,000, reflects extraordinary momentum. This series of records illustrates the robustness of the current bullish movement, seemingly driven by solid fundamentals rather than pure speculation.

As Bitcoin continues to explore uncharted territories, analysts agree on one point: we are potentially witnessing the beginnings of a new major bullish cycle. Caution remains warranted, as price movements may experience significant volatility in the coming days.