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Bitcoin’s bull run is going to continue as fundamental stars start to align. That’s according to analysts at research and brokerage firm Bernstein, who said on Monday that investors should be prepared for the next leg of the bull rally in Bitcoin and equities related to the alpha crypto. Bitcoin Has More Room To Run Bernstein analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia believe that the current bull market started in Q4 of 2023 following the anticipation of spot Bitcoin exchange-traded fund approval in the United States, driving the price of BTC from $25,000 levels to past $46,000 by the time the funds started trading on Jan. 11, 2024. According to Bernstein, the massive inflows into the spot ETFs created the next tailwind. Their unprecedented success was not priced in, and Bitcoin skyrocketed to a record high of about $74,000 before the bulls took a temporary break. Finally, the victory of pro-crypto Donald Trump in the November presidential election further spurred the next huge bullish impulse following his campaign promises to make the U.S. the world’s crypto capital and establish a national Bitcoin stockpile. At the time, Bitcoin hit its historic high of $108,786 on Trump’s swearing-in day. “The next leg of the Bitcoin bull market is loading up with a confluence of several positive catalysts,” the analysts wrote. They think that the Crypto Task Force, led by Trump’s AI and crypto Czar David Sacks, will deliver the National Bitcoin Reserve with the directive of the president. Other Bitcoin Tailwinds That Could Drive Prices Higher In 2025 Bernstein strategists further added that Abu Dhabi’s sovereign wealth fund purchasing Bitcoin via the exchange-traded funds was bullish for the foremost crypto. Moreover, the new Trump regime recently announced a sovereign wealth fund (SWF). They also highlighted Strategy’s (formerly MicroStrategy) recent $742 million BTC purchase, taking its total stash to 478,740 BTC, worth around $45 billion at current market prices. The U.S. Securities and Exchange Commission’s repeal of SAB 121, a move that now allows crypto custody by banks, and strong year-to-date Bitcoin ETF inflows of nearly $5 billion are other catalysts noted by Bernstein. “The confluence of adoption by banks, institutional investors, corporates and eventually sovereigns (directly or via sovereign funds) is positioning Bitcoin as the clear challenger to gold,” the report said. “With Bitcoin at $2 trillion market value vs. $18 trillion market value of proven gold reserves, we see asymmetric upside for Bitcoin.” The Bernstein analysts have previously forecasted that the Bitcoin price would be valued at $200,000 per coin by the end of this year.

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TL;DR Shiba Inu’s price faces further downside risks due to a sharp drop in Shibarium activity, a collapse in the burn rate, and other factors. However, a predominantly negative exchange netflow suggests investors might be moving SHIB off exchanges into self-custody, potentially easing selling pressure and hinting at a short-term price rebound. What Signals a Severe Pullback? The second-biggest meme coin has not been in good shape lately. Its price has fallen over 25% in the past month, currently trading at roughly $0.00001543. SHIB Price, Source: CoinGecko Some key elements indicate the meme coin might be headed for a deeper correction. One of those is the decreased Shibarium activity. Daily transactions processed on the layer-2 scaling solution have dropped from over 4.5 million last week to under 100,000 on February 17. Shibarium is specifically designed to foster the development of the Shiba Inu ecosystem, and its further advancement could positively impact the price of the underlying token. Conversely, its stalled progress may have the opposite effect. Next on the list is Shiba Inu’s burning program. The burn rate has collapsed 95% over the last 24 hours, resulting in just 1.7 million tokens sent to a null address. The mechanism’s ultimate goal is to reduce the circulating supply of SHIB, potentially making it more valuable in time. Lastly, we will touch upon the overall bearish environment of the entire meme coin niche. The sector’s total market capitalization has slipped by 5% in the past day, currently set at less than $75 billion. The vast majority of the memes, including Dogecoin (DOGE), Pepe (PEPE), Official Trump (TRUMP), Bonk Inu (BONK), Floki Inu (FLOKI), and many more have recorded substantial losses. Meme coins are often driven by hype, community sentiment, and speculative trading. A downtrend of the entire sector can dampen enthusiasm, leading to reduced trading volume and selling pressure on numerous tokens, including SHIB. Something for the Bulls Despite the aforementioned bearish factors, it is not all doom and gloom, with one on-chain metric suggesting a possible price reversal in the short term. This is Shiba Inu’s exchange netflow which, according to CryptoQuant, has been predominantly negative in the last month. The development signals about a potential shift from centralized platforms toward self-custody methods, which in turn, reduces the immediate selling pressure. The post Another Shiba Inu (SHIB) Price Crash Ahead? 3 Factors Driving Bearish Sentiment appeared first on CryptoPotato.

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