Analysts: Bitcoin's 20%+ Surge Signals Bear Market May Be Ending

Bitcoin posted its strongest week in some time, climbing about 25% and pushing close to $80,000 as upside momentum accelerated. Market commentator Doctor Profit said the latest breakout above multiple key resistance areas suggests the bear phase may have ended, with BTC now in what he calls a "soft bull market." He flagged $71,000 as a critical support level and $78,500 as the next major resistance, arguing that price action between the two is largely "noise." While a pullback to the $71,000 area remains possible, he views it as the lowest meaningful zone Bitcoin would likely revisit before resuming a move higher. A clean break above $78,500 could open the way toward roughly $82,000, and he expects a stronger bull-market expansion once Bitcoin pushes through $82,000 decisively. Doctor Profit also cited Bitcoin's behavior around $60,000 as a sign that sizable capital is ready to step in when fear returns. He wrote that buyers were willing to deploy meaningful size during periods of anxiety, while those waiting for $50,000, $40,000, or a "magical" four-year-cycle bottom were left behind. He added that he doubts the market will offer most participants another clear entry below $71,000. On overbought concerns, he said weekly and monthly RSI readings remain neutral. He views the daily RSI as more relevant for near-term swings but not a major risk at current levels. He also attributed much of the recent rally to short covering rather than a wave of new leveraged long positions or heavy spot buying, effectively forcing bears to become buyers. As a historical parallel, he pointed to 2023, when Bitcoin rose from about $16,000 to $25,000 (around +56%), then fell roughly 22% to near $19,000. After sentiment deteriorated into extreme fear and some long-time holders sold, BTC reversed sharply and rallied from about $19,000 to $30,000, a move close to 60%. He said the comparison is less about repeating the same price path and more about recurring market psychology: fear, disbelief, short squeezes, pullbacks, panic, capitulation, and eventual expansion. Separately, analyst Ali Martinez said Bitcoin's latest weekly jump could be an early signal of a new bull market. He noted that BTC posted a nearly 32% weekly gain in 2019, and surged 25% in January 2023 following the FTX collapse despite deeply bearish sentiment. Martinez said the current setup looks similar, arriving as many traders had been looking for an October bottom based on the four-year-cycle theory. This article was originally published by CryptoPotato.