Bitcoin has shown impressive performance in a bearish market, leading to speculation about the return of smart investors and the possibility of a bull run. A recent analysis by CryptoQuant suggests a typical market cycle where “stupid money” joins late in the bull run while “smart money” enters early. This pattern has been observed before and provides insight into market dynamics. The dominance of “stupid money” reached its peak at the end of 2022, indicating that the bottom of the market cycle has passed. Bitcoin’s dominance has remained unchallenged for over six months, creating a solid foundation for smart money to enter. While the analysis does not provide a specific timeline, it suggests that smart investors may be preparing to reenter the bitcoin market. Currently, bitcoin is trading above $30,000 and has reclaimed the $30,000 mark after seven weeks of bearish trends. The renewal of interest among institutional investors has contributed to bullish sentiments and fueled the recent rally. With the possibility of smart money returning, the market could be gearing up for a run.
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