3 Bitcoin’s ‘parabolic phase’ is about to begin with a target of $250k.

Bitcoin (BTC) price is up 55% so far in 2024, including a 12.50% gain in October. The recent surge in overall improved risk-off sentiment has been fueled by better-than-expected Wall Street earnings.

Additionally, investors are pricing in a Federal Reserve rate cut in November, adding to optimism that pro-crypto Donald Trump will win the 2024 presidential election.

Related: Anthony Pompliano Reveals Key Incentives for Bitcoin's Next Bull Run

Basically, Bitcoin looks well positioned to enter a bull run cycle for the rest of 2024 and beyond. Meanwhile, certain technical and onchain indicators suggest a similar upward outlook.

Fractal suggests that the price of Bitcoin will reach 100 thousand dollars in 2025

The first signs of Bitcoin entering a new bull cycle is the two-month logarithmic chart, independent market analyst Kush Alamzadeh shared on X.

The chart shows Bitcoin's historical bullish levels, such as a 60x increase around 2011, a 20x increase in 2017, and a 60x increase in the 2020-2021 bull run.

These levels follow a pattern in which the price of Bitcoin first consolidates before a large, vertical rally occurs.

In the year Since October 2024, Bitcoin has been showing signs of breaking out of its extended consolidation phase, which usually signals the start of a bull run in a parabolic channel marked with two red dashes.

Market analyst Ted Truss echoed this sentiment, highlighting a similar divergence to Bitcoin's consolidation channel.

They argue that Bitcoin's “parabolic phase” has begun in line with historical patterns of rapid price acceleration.

Global Zadeh's Fractal Analysis predicts that Bitcoin will rise above $100,000 by 2025 and above $250,000 in the long term.

Bitcoin Well data shows the nature of the pre-Covid rally

Another sign of Bitcoin bullishness comes from the whale activity of onchain data on the exchange.

The “Exchange Whale Ratio”, represented by a 30-day moving average, currently mirrors patterns last seen in 2020 after the Covid-19 crash. In that example, Wells stockpiled Bitcoin heavily before the massive bull run that took Bitcoin to new all-time highs in late 2021.

In the year As of October 2024, a similar whale stock pattern suggests that large holders are positioning themselves for potential price gains, said CryptoQuant analyst Woominyu:

“they [whales] They are positioning themselves to benefit from the potential long-term price increase after the next Bitcoin halving.

Stablecoin dominance is waning.

The third indicator focuses on the dominance of stablecoin. Market analyst Dr. Asmat predicts that the dominance of stablecoins such as USDT, USDC and DAI will gradually decline from mid-2024.

Historically, when capital began to flow out of Stalkcoin, it was a prelude to significant price increases, including Bitcoin, as shown below.

In other words, the decline in stablecoin dominance suggests that investors expect bitcoin to appreciate against the US dollar, reflecting rising risk appetite and confidence in the market.

If this trend continues, it could be strong confirmation that Bitcoin's parabolic phase has begun, as more liquidity will return to BTC, driving the price higher.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.