The report notes that the demise of the crypto exchange has cleared the final tranche of “toxic crypto leverage,” and it has also taught digital asset investors the importance of decentralization and self-custody wallets.
The report also adds that the opportunity to build a new institutional financial stack on the blockchain remains a worthy goal, and serious participants remain focused on the long-term. It also notes that this will be the first crypto cycle with participation from leading institutional investors.
Moreover, the BTC price has already increased by 80% since the beginning of 2023. According to crypto market analyst Ali Martinez, the Bitcoin Reserve Risk, an on-chain indicator, hints at a strong bullish momentum for Bitcoin going ahead.
He explains that when the $BTC Reserve Risk moves above 0, it signals parabolic price moves. In the past, such a move has resulted in gains of 2,830%, 566%, 6,400%, 99%, and 487% in 2012, 2013, 2015, 2019, and 2020, respectively. Reserve Risk has just crossed 0 again, indicating a huge potential for Bitcoin.
