What Bitcoin Did Bitcoin All Time High: Has the Cycle Broken? | Rational Root
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Jul 16, 2025 Rational Root, an insightful Bitcoin on-chain analyst and author of the "Bitcoin Strategy Platform" Substack, discusses the current state of Bitcoin's bull market. He argues against a prolonged bear market, highlighting how institutional demand is reshaping price dynamics. The conversation dives into the potential of 100k as a new baseline and the impact of macro factors like interest rates and political policies. Root also emphasizes the evolving psychological landscape of the market, framing Bitcoin’s structural adoption as a stabilizing force against volatility.
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Bitcoin Correlation to Risk Assets
- Bitcoin remains highly correlated with risk-on assets like the S&P 500 and NASDAQ in the short term.
- Institutional interest ensures this correlation may persist despite hopes of decoupling.
$100K Becomes New Bitcoin Support
- The $100K zone has shifted from resistance to strong support for Bitcoin.
- Structural institutional demand from treasury companies and ETFs is limiting downside volatility.
No Basis for Prolonged Bear Market
- There is no real basis for a prolonged Bitcoin bear market currently.
- A significant drop would likely be macro-driven, as Bitcoin's market structure shows resilience.