According to a chain analyst, the second phase of the crypto bull market is about to begin.
The crypto bull market is about to move into its second and final phase, characterized by euphoria and peaceful price movements, according to Glassnode's on-chain analyst James Check.
“We are moving from an enthusiastic bull that is below an all-time high,” he said in an exclusive interview with Cointelegraph.
According to Czech, the hot bull phase started in October 2023 and ended after Bitcoin (BTC) peaked in early March.
Czech says the next phase will be marked by people “getting more and more excited,” which comes with greater volatility. “Increasing coverage of Bitcoin in the news leads to an increase in interest,” he said.
The price will increase until it comes to the market to satisfy the supply.
Check notes that the current bull market is one of the strongest in Bitcoin history, given the small corrections seen in the rally.
“The market seems to be quickly gaining support and that is a good sign,” he said.
To learn more about what on-chain analysis tells us about the next Bitcoin bull market, watch the full interview on Cointelegraph's YouTube channel – and don't forget to subscribe!
