Bitcoin (BTC) reached an all-time high (ATH) of $90,030 on November 12, pulling other cryptocurrencies into a bull market. According to an analyst, data suggests this could be “the biggest crypto bull run ever,” with a robust market setup.
Miles Deutscher shared a list with ten signals pointing to the strongest and most liquid market crypto has had. The analyst, who has years of expertise in the cryptocurrency landscape, posted the list on November 11, before the ATH.
“This is the most obvious bullish setup any liquid market has had in YEARS. That isn’t an exaggeration. I have the data to show you how the stars are aligning for the biggest crypto bull run EVER.”
– Miles Deutscher
On that note, TradingView’s Crypto Total Market Cap Index (TOTAL) broke out of a seven-month downtrend a few days ago. Right now, TOTAL marks $2.875 trillion in capitalization, slightly retracing after reaching $3 trillion earlier this morning.
Crypto Total Market Cap Index (TOTAL). Source: TradingView / Finbold / Vinicius Barbosa
Signals for “the biggest crypto bull run ever,” according to analyst
First, Deutscher blames the breakout on Donald Trump’s victory in the United States, bringing regulatory optimism to the crypto industry. He referenced bullish “second-order effects” from Trump’s win, posted by Aylo on November 6, which may play their role.
From adding Bitcoin as a US reserve asset to a “red wave” of innovation with less restrictive rules. These were the triggers for this last week’s bull run, but things go far beyond the United States presidential election.
Macroeconomic data sustains “the biggest crypto bull run” idea
Notably, the Federal Reserve is expected to continue cutting rates in the following months – with a similar international outlook. Analysts forecast a 3.75%-4.00% interest rate by June 2025, warning of ongoing rate cuts in other economies.
Deutscher is also looking at global liquidity, which has entered a historical super cycle, as Finbold reported. “We know Bitcoin is a liquidity sponge,” Miles added. “So, fundamentally, this is the key factor underpinning market strength.”
Global Liquidity Cycle (Advanced Economies). Source: CrossBorder Capital / Finbold
Furthermore, the analyst shared Bernstein’s recommendation letter welcoming investors to “the crypto bull market,” recommending they “buy everything [they] can.” This serves to illustrate how even wealth fund managers are pitching cryptocurrencies, not only Bitcoin, to their traditional finance clients.
Bitcoin microeconomic data is also bullish
In closing, Miles Deutscher mentioned three microeconomic data from Bitcoin and the crypto market that help sustain his bullish thesis.
Essentially, he pointed out the Bitcoin ETFs’ growing demand – which Finbold also reported about, looking at BlackRock’s IBIT volume. Moreover, BTC’s supply on centralized exchanges has reached historically low levels, diminishing the potential selling pressure.
“Timeline wise, everything lines up,” the analyst concluded. “We’ve entered the 3rd phase of the bull run, which is the most parabolic market phase.”
Nevertheless, while lots of data suggest we could indeed experience “the biggest bull run ever,” investors should remain cautious. Having a solid plan, avoiding FOMO, and remembering to realize profits frequently are really important to navigating the following months.
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