Bitcoin in this phase of the cycle

Despite the geopolitical noise, Bitcoin shows clear signs of strength within the market cycle.

First, the price remains close to the estimated production cost for miners, around $70,000 according to industry references such as MARA Holdings. Historically, these areas tend to act as support levels where accumulation begins.

Furthermore, institutional capital is entering the market again. Bitcoin ETFs have recorded consecutive weeks of net purchases, suggesting that large investors are taking advantage of the consolidation.

Meanwhile, MicroStrategy, led by Michael Saylor, continues to strengthen its strategy and added thousands of BTC to its reserves, clearly betting on the long term.

At a macro level, the increase in Brent Oil due to tensions in the Middle East is putting pressure on global inflation, a context where investors tend to look at scarce assets like Bitcoin.

Finally, a recovery in liquidity within the crypto ecosystem is observed, with more digital dollars circulating, something that has historically preceded bullish movements.

$BTC Overall, the market seems to be in a phase of consolidation and accumulation within the Bitcoin cycle.