#Bitcoin - Is this the weakest bull market in history? Many believe this bull market is one of the weakest in history because Bitcoin's price movement has been slow, mostly consolidating sideways rather than experiencing the explosive vertical surges of previous cycles. Let's first look at the USDT market capitalization share. Upon closer inspection, you'll find that when Bitcoin bottomed out and the USDT market capitalization share reached its peak, Bitcoin's price began to recover from a low of $15,500, and the USDT market capitalization share subsequently experienced its first significant drop. However, as the USDT market capitalization share began to consolidate, Bitcoin's price also began to slowly recover. Shortly afterward, the USDT market capitalization share experienced its first significant drop, while Bitcoin's price surged from $26,000 to $74,000 in just a few months. Now, let's look at the current structure: Over the past 13 months (since September 2024), USDT's market capitalization share has been consolidating within a descending triangle, exhibiting both a left high (LH) and a right high (LL) (bearish structure). Meanwhile, Bitcoin's market capitalization share is also consolidating, resulting in a slower price movement and a less rapid upward move than expected. It's worth noting that USDT's market capitalization share has just tested the descending triangle's resistance level for the third time, while Bitcoin is currently trading near its support level. If we see this bearish pattern rejected and broken, then Bitcoin is very likely to move upwards this time, followed by a surge.
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