Bitcoin (BTC) is Now Setting the Stage for What Could Become a Massive Bull Run

Bitcoin is now setting the stage for what could become a massive bull run. After surging more than 26% since April 9, BTC is trading firmly above the $90K level

Bitcoin (BTC) is now setting the stage for what could become a massive bull run. After surging more than 26% since April 9, BTC is trading firmly above the $90K level,

The post Bitcoin On-Chain Trends Point to Historic Bull Run as Exchange Activity Drops to 2016 Levels appeared first on Benzinga.

Bitcoin (BTC) is showing signs of macro-level strength as it begins to decouple from U.S. equities. While the S&P 500 and NASDAQ face continued pressure due to mounting global tensions and investor unease, BTC has rallied—reaching a local high around $94,000. This divergence signals a potential shift in market behavior, where Bitcoin is increasingly seen as a hedge or alternative to traditional assets during periods of uncertainty.

One key factor supporting this divergence is the rising conviction among long-term holders. As shared by crypto analyst Axel Adler on X (formerly Twitter), the number of Bitcoin addresses depositing coins to exchanges has declined steadily since 2022. The 30-day moving average has now dropped to 52,000 addresses, well below the 365-day average of 71,000. Historically, this figure hovered closer to 92,000, making the current level one of the lowest in the past decade.

Most notably, today’s numbers are comparable to those seen in December 2016, just before the historic 2017 bull run. This trend indicates that investors are holding rather than selling, with coin sales reducing fourfold over the past three years. With selling pressure dropping and investor conviction rising, Bitcoin may be laying the groundwork for a powerful new rally.

Bitcoin is currently trading at $92,300, having posted a strong weekly candle that briefly touched the $95,000 level. Bulls have taken control of short-term momentum, and the $95K mark now stands as a key resistance level. A breakout above it could trigger a swift move toward the long-awaited $100K milestone, especially if buying pressure accelerates amid positive macro signals.

However, analysts also suggest that a healthy retracement may occur before any significant breakout. A pullback could offer stronger technical support for the next leg up, especially if Bitcoin manages to stay above the 200-day moving average and key demand zones. The $88,500 level is particularly important in this context. Holding above this zone would signal short-term strength and continued bullish control, even in the event of a consolidation phase. Falling below it could delay the uptrend and bring a retest of deeper support.

Overall, the current structure of BTC’s price action favors the bulls. But with global tensions and macroeconomic uncertainty still influencing market behavior, traders will be closely watching to see if Bitcoin can build on its recent gains and turn $95K into support.

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