Mati Greenspan, a former senior market analyst at eToro and founder of Quantum Economics, noted that Bitcoin has experienced “positive momentum in recent days.”
“Typically, this is how market bottoms form,” Greenspan observed. “They often start with a short squeeze, followed by a major surge, then break through technical resistance points. As a result, traders who have been waiting for Bitcoin to dip to $40,000 are likely reconsidering their plans, thinking, ‘I need to hop on this trend before it’s too late.’
When questioned about the potential for another price drop, Greenspan responded, “It’s certainly a possibility, but I wouldn’t rely on it. During these times, fear of missing out (FOMO) usually intensifies.”
On the other hand, Jason Fernandes, market analyst and co-founder of AdLunam, cautioned against becoming overly optimistic. “I’d advise exercising caution before declaring the end of the bear market. Without consistent inflows from spot ETFs and clear signals of macroeconomic rate reductions, I’m concerned that Bitcoin might struggle against its resistance levels.” On Friday morning, Bitcoin reached a high of $79,200 before declining to $77,500.