Analyst: Bitcoin bull market only 8.5% complete
- —BTC gained about 1% in 24 hours, holding above $82,000
- —The rebound from the $58,000 low exceeds 40%
- —Long-term holders sold only 3.16% of BTC versus the usual 37-38%
- —Crosby estimates the bull cycle is 8.5% complete
Why it matters: Low selling by long-term holders points to further upside, though the outcome hinges on macro conditions and rate moves.
Source: Newsbit