Bitcoin Could Experience a Significant Rally, Analysts Suggest

Some cryptocurrency analysts believe that Bitcoin (BTC) might ignite a rally similar to its last cycle if past trends hold true.

An analyst named Kaleo mentioned to his 704,200 followers on X that Bitcoin’s recovery after the Covid-19 crash in 2020 led to a record high, which sparked a major rally.

Kaleo pointed out that the S&P 500 index seems “on the verge of breaking into a new historical high,” following changes related to US tariffs on trading partners.

“We think Bitcoin will follow suit and perform even better as history often repeats itself and stocks break out,” he said.

As of Friday’s close, the S&P 500 was at 5,967 points, which is only 3% down from its all-time high of 6,147 points.

Kaleo also remarked that, unlike previous cycles, Bitcoin is drawing new demand sources, which makes the outlook “more bullish” for this leading cryptocurrency.

“This marks the first cycle of Spot Bitcoin Exchange-Traded Funds (ETFs). I never imagined we would see that in past cycles,” he noted. “Countries and corporations are starting to build BTC reserves; pioneers like El Salvador and Tesla are just the first to take the plunge.”

“Now, we have a president in the U.S. who supports pro-crypto policies, pushing for industrial regulation,” he added. “The infrastructure for the industry is better than ever, with decentralized applications being more advanced, and more places are starting to accept BTC for payments.”

Currently, Bitcoin is trading at $104,143, which is about 7% lower than its peak last month.