The DeFi Report: bitcoin is in an early bull-cycle phase
- —The early bull phase would be confirmed if BTC holds its 50-week MA near $80,000
- —Historically, the early bull phase lasts 9-12 months
- —Phase signals: rising BTC dominance, returning new users, growing DeFi incentives
- —In the last cycle, DEX volume on Solana grew roughly 10x
Why it matters: If the scenario holds, the current consolidation is accumulation ahead of a rally rather than a continuation of the bear market.
Source: Bitcoin Sistemi