Odaily Planet Daily reports: Bitcoin has risen for eight consecutive trading days, the first such occurrence in nearly four years. Data shows that historically, similar consecutive rising trends continued to rise in about 60% of cases over the subsequent 30 days, with a median increase of approximately 19%.
This rally began on March 9, with Bitcoin's price gradually rising from approximately $68,000 to above $75,000. Analysis suggests this movement is linked to capital inflows amid heightened geopolitical tensions in the Middle East.
However, the market also suggests caution. Historically, similar streaks of consecutive gains have occurred during bear markets—for example, after an 8-day rally in the same period of 2022, prices fell by approximately 30% over the following 30 days. The market is currently still in the contraction phase of Bitcoin’s four-year halving cycle. (CoinDesk)