Anonymous analyst PlanB, famous for proposing the S2F model, stated yesterday that the accumulation phase of Bitcoin has ended, and the next phase will be a crazy bull market that will make people FOMO (Fear Of Missing Out).
(Previous Summary:
Bitcoin breaks 64,000 but don’t celebrate too soon? Matrixport founder: March is fragile, BTC may pull back 15% after halving.
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(Background Supplement:
JPMorgan: Bitcoin may drop to $42,000 after halving in April, another mining tsunami?)
Bitcoin has broken through multiple important price levels this week, reaching a high of $64,000. In the face of this rapid surge, many analysts have expressed concerns about a short-term market correction.
PlanB: Accumulation phase of Bitcoin has ended
In this context, PlanB, the anonymous analyst famous for proposing the S2F model, released a cyclical chart of Bitcoin on X yesterday, stating that the accumulation phase of Bitcoin has ended and will be replaced by a crazy bull market of about ten months that will make people FOMO. However, he also mentioned that this period will be accompanied by multiple drops of over 30%. If his prediction is correct, investors should be cautious and avoid excessive leverage.
Bitcoin futures open interest reaches $26 billion, a new all-time high
Also worth noting is that Coinglass data shows that the open interest of Bitcoin futures on centralized exchanges (CEX) has reached a new all-time high of $26 billion, higher than the peak of $24 billion in Q4 2021 during the bull market.
This also implies that the market may experience greater volatility in the near future, so investors should be cautious.
Source: Coinglass
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