Bitcoin’s price has been a bit of a rollercoaster lately, mostly due to global political tensions. It’s currently hanging around $105,000-$106,000 after a dip below $103,000. But despite the ups and downs, the market is showing some interesting signs.
Bitcoin’s Growth: A Mature Market’s Strength
Data analysts at Glassnode have been looking at Bitcoin’s price performance over its various market cycles (roughly four years each). They’ve noticed something interesting. In previous cycles, Bitcoin saw massive gains: 1076% (2015-2018) and 1007% (2018-2022). The current cycle (since 2022) is at 656% – not as high as before, but still impressive.
Glassnode points out that Bitcoin is a much more mature asset now than it was in previous cycles. It’s held by institutional investors and has a $2 trillion valuation. For an asset this size to still show such growth is a strong indicator of sustained demand. Compare this to gold, which only saw about 192% growth over the past 10 years. Bitcoin’s 6x increase since 2022 suggests strong underlying market support.
A Look at the Current Market
Right now, Bitcoin is trading around $105,540, up slightly. However, trading volume is down significantly (35.39%), suggesting less market activity. Network fees are also down, and a substantial amount of Bitcoin ($2.4 billion) has flowed into exchanges – a sign that some investors might be selling.
Since hitting a new all-time high of $111,891 in May, Bitcoin has corrected, dipping below $101,000. Despite this, investor sentiment remains relatively bullish, with the Fear & Greed index showing a “Greed” level of 63.
