Bitcoin’s Bull Rally: Elliott Wave Theory Predicts Further Growth

Crypto analyst Tolimanu has applied the Elliott Wave Theory to Bitcoin's current market cycle, suggesting that the bull run is far from over. According to the analysis, Bitcoin is poised for another upward surge unless key support levels are breached. The theory outlines a 5-wave upward movement, typically indicating a primary trend, followed by an 'ABC' correction. Tolimanu's chart highlights a potential dip to $73,000, which could serve as a springboard for further gains. This analysis provides a bullish outlook for Bitcoin enthusiasts, reinforcing the potential for continued growth in the cryptocurrency's value. As of June 2025, the market remains optimistic, with many investors eyeing the next major price milestone. The Elliott Wave Theory's application to Bitcoin's current cycle offers a structured framework for understanding market movements, lending credibility to the prediction of sustained upward momentum. With key support levels intact, the stage is set for Bitcoin to potentially reach new heights in the coming months.

Elliot Wave Theory Suggests Bitcoin Bull Rally Isn't Over Yet

Crypto analyst Tolimanu has applied the Elliott Wave Theory to Bitcoin's current market cycle, concluding that the bull run still has room to grow. The analysis indicates that unless key support levels are breached, bitcoin is poised for another upward surge.

According to the theory, a 5-wave upward movement typically signifies a primary trend, followed by an 'ABC' correction. Tolimanu's chart suggests a potential dip to $73,969 during the corrective phase, but this WOULD likely set the stage for a higher-degree bullish phase.

Bitcoin Short-Term Holders Resist Selling as NUPL Signals Potential Upside

Bitcoin faces mounting pressure as bullish momentum wanes and sellers re-enter the market. After weeks of sustained strength, BTC now tests a critical support zone between $92,000 and $93,000—a level that could either solidify as a foundation for further gains or crumble under escalating sell pressure.

Analyst Axel Adler highlights a pivotal risk threshold: short-term holders historically cash out when Net Unrealized Profit and Loss (NUPL) exceeds 40%. This profit-taking behavior floods the spot market with supply, often precipitating downward price movements. Bitcoin's recent stall NEAR $98,000 suggests the market is approaching this inflection point.

Dormant Silk Road-Linked Bitcoin Wakes Up After a Decade

Two Bitcoin wallets tied to the infamous Silk Road marketplace have stirred after more than a decade of inactivity, moving 3,421 BTC worth approximately $322.5 million. The transactions, flagged by Whale Alert, originated from addresses first activated in July 2013—marking their first on-chain activity in over ten years.

The funds were transferred to new wallets, which remain idle as of the transaction date. Notably, the transfers incurred minimal fees (0.000105 BTC), suggesting deliberate, non-urgent movement rather than a liquidation attempt. Analysts speculate this could signal internal restructuring or a cautious reawakening of long-held assets.

One wallet, labeled "1NWPS," had been dormant for 10.5 years before executing the transfer. The original wallets now show zero balances, leaving the crypto community to debate whether the coins will eventually hit exchanges or remain in cold storage.

New Hampshire Pioneers State-Level Bitcoin Reserve Investment

New Hampshire has become the first U.S. state to authorize Bitcoin reserve investments, granting its treasurer authority to allocate up to 5% of state funds into BTC and other digital assets with market capitalizations exceeding $500 billion. Currently, Bitcoin stands as the sole cryptocurrency meeting this threshold.

The legislation, signed by state officials, will take effect within 60 days. "New Hampshire is once again First in the Nation!" proclaimed the announcement on social media platform X, highlighting the state's progressive stance on cryptocurrency and precious metals investment.

This MOVE signals growing institutional acceptance of digital assets, with Bitcoin's status as the exclusive qualifying asset underscoring its dominance in the cryptocurrency market. Political supporters have framed the development as consistent with New Hampshire's "Live Free or Die" ethos of financial independence.

Bitcoin Network Activity Declines into Bear Market Zone

Bitcoin's network activity has dipped into bear market territory, according to on-chain data. The CryptoQuant Network Activity Index, which tracks transaction counts and daily active addresses, signals a potential downturn. Analysts suggest this could either be a warning or a buying opportunity for long-term investors.

The metric's recent decline mirrors historical patterns seen during previous bear phases. Market participants are closely watching whether this signals a prolonged downturn or a temporary lull before renewed accumulation.

Bitcoin Faces Resistance Amid Profit-Taking and Declining Whale Activity

Bitcoin's rally toward $97,000 is encountering stiff resistance as profit-taking accelerates and whale accumulation wanes. Network activity has slumped since December 2024, with transaction volumes and active addresses both declining—a bearish divergence from BTC's recent price resilience at $94,446.17.

The Coinbase Premium Gap's -5.07 reading signals persistent selling pressure from U.S. institutional traders, while exchange outflows continue without meaningful institutional support. Market structure now presents a critical juncture: either a decisive breakout above resistance or a deeper corrective phase.