Bitcoin Sets 90-Day Uptrend Record as Analyst Sees Bull-Market Revival

Bitcoin’s latest rally has followed a clear time-zone pattern, with most gains over the past three months driven by trading during Asia-Pacific and U.S. hours. This reflects shifts in global capital flows and risk appetite. The reports did not identify the research provider or the start and end dates of the data, so the findings remain subject to sample limitations.

The latest analysis found that Bitcoin generated its strongest average returns between 00:00 and 01:00 UTC, while Monday was its best-performing trading day. At the time covered by the reports, improving sentiment toward global risk assets was pushing Bitcoin toward the $82,000 threshold, although no exact date or real-time price was provided.

Bitcoin reached a high of about $69,000 in November 2021, and the market has long viewed the previous bull-cycle peak as key support in a new cycle. The U.S. Securities and Exchange Commission approved spot Bitcoin ETFs on Jan. 10, 2024. The arrival of institutional capital from BlackRock, Fidelity and others has intensified scrutiny over whether Bitcoin’s price cycles can sustain their parabolic gains.

Bitcoin recently fell to about $70,000, retesting its 2021 high and challenging the perception that former peaks are unlikely to be revisited during a bull market. The 2017 high of about $20,000 was more than 17 times the previous cycle’s peak of roughly $1,100, while the 2021 high was only about 3.5 times the preceding peak. Analysts say that as the market grows, increasingly large inflows are needed to drive prices higher, potentially leading to continued declines in returns across cycles.

Consecutive daily gains in Bitcoin typically signal buying momentum and are particularly important for assessing the near-term trend. Historical data compiled by Cointelegraph show that Bitcoin has extended its advance roughly 60% of the time after an eight-day winning streak. However, the same pattern also appeared during the 2022 bear market, while halving cycles are often accompanied by significant pullbacks, leaving the market exposed to overheating risks.

Bitcoin closed higher for eight consecutive days starting March 9 and broke above $75,000 during the run, marking its first eight-day winning streak in four years. Despite the latest pullback, the market still considers BTC “overbought,” and the price may consolidate first. Whether it can hold firmly above $75,000 will be key to determining whether the rally continues or the correction deepens.