Recent market activity has shown strong performance in the cryptocurrency market, driven by the surge in Bitcoin's value. This trend change is exhibited in an accumulation pattern in which investor behaviour is forming a robust accumulation regime concurrent with a 39% price increase over the past month, with evidence of strong holdings across all investor cohorts since October of 2023. Anticipation of a potential spot BTC ETF, as well as the strong performance, have contributed to the current outlook which shows 83% of Bitcoin in profitable territory, nearing the higher standard deviation band of 90% often associated with the initial bull market "Euphoric phase". Despite some market volatility following the recent DOJ enforcement against Binacne and Chanpeng Zhao's resignation, Bitcoin remains largely unscathed, hovering at the $37,000 mark.



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