Bitcoin Bull Cycle in Progress, but There Is a Big Twist

Core Insights - Bitcoin has achieved over 100% gain compared to a year ago, with October historically being a bullish month for digital assets [1] - Analysts have observed the beginning of a bullish cycle, although the pace of growth is notably slow [1][5] Price Movements - Bitcoin reached an all-time high (ATH) above $124,000 in August but struggled to maintain levels above $110,000 in September, consolidating around $109,500 by September 28 [2] - Following a sell-off attributed to the U.S. Federal Reserve's interest rate cut, Bitcoin's price fell below $110,000, with critical support identified at $106,500 [3] - A sudden price improvement saw Bitcoin rise to $112,000, and as of October 1, it topped $117,000, currently priced at $118,516.22 with a 3.43% increase [4] Market Sentiment and Analysis - Analyst Ash Crypto believes Bitcoin has entered a bullish season, predicting sustained rally until year-end based on historical average returns [4] - Despite the positive outlook, CryptoQuant's analyst Crypto Dan highlighted that the current gain progression is slow compared to previous cycles, indicating that the market has not yet reached its peak [5]