The pandemic and great reopening had a significant impact, both […]
Etherum ($ETH) is pushing to new all-time highs. However, Bitcoin ($BTC) maintains a commanding lead in terms of market cap and sway over the crypto market.
The $50,000 price level provided strong resistance last week, but now Bitcoin is fast approaching another test of that level. Although recent price action suggests some similarities to the 2017-2018 bull cycle, a chart plotting Bitcoin's Purchase Intent Mentions against the price reveals immense relative strength in 2021.
It’s been a little over 4 months since BTC reached it’s 2021 ATH ~$63,000. And, its near-term outperformance vs the prior bull cycle can be quantified:
Bitcoin is still showing strength, and a clean break above $50,000 would be a bullish indicator for the entire crypto market.