Analyst: Bitcoin's rise will continue until the end of 2025

According to Cointelegraph, despite the weak performance of other major global assets, Bitcoin has still reached a historic high. Over the past month, Bitcoin's price has soared by 32%, while oil prices have fallen by 6.3%, the S&P 500 index has dropped by 1%, and gold has declined by 1%. The rise of Bitcoin relative to other global assets is a good sign for Bitcoin investors and strengthens analysts' expectations that the current bull market will continue until the end of 2025 - also known as the "excitement phase" in cryptocurrency trader slang.

According to Net Unrealized Profit/Loss (NUPL) indicator, Bitcoin has entered this excitement phase. Quinten François, co-founder of WeRate stated that this could potentially extend Bitcoin's upward trend until late-2025. NUPL is used to measure whether overall bitcoin network is profitable or at loss; its measurement standard being difference between unrealized profits and losses held by BTC holders. Raoul Pal, founder and CEO of Global Macro Investor said that based on correlation with liquidity index, by January 2025, bitcoin would reach over $110k “local top”.