On the higher time frame, Bitcoin appears to still be in a bearish market with the asset recording a 21.7% decrease away from its all-time high (ATH) above $109,000 recorded in January.
However, when slightly zoomed in, it is seen that the asset is seeing a gradual and steady rebound surging 6.8% in the past week to bring its asset closer to the psychological $90,000 mark with a current trading price hovering above $85,000.
The latest analysis from CryptoQuant analyst Crypto Dan offers context for this cautious optimism. In a post titled “Why does this cycle feel so boring?”, Dan explained that, unlike previous bull cycles that featured fast-paced rallies and surging interest from short-term participants, the current cycle appears subdued.
Why The Current Cycle Is Different
One major indicator supporting Dan’s observation is the notably lower percentage of Bitcoin held for short durations (1 week to 1 month), reflecting minimal engagement from newer market entrants.
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