Crypto analyst Patric H. of CryptelligenceX listed seven reasons why he is bullish on Bitcoin this week, including a strong market trajectory. I post that Bitcoin has closed above critical weeks and rejected bearish forecasts of sub $40,000 prices, while highlighting Bitcoin’s break from its weekly downtrend, he wrote in a post on X.
This optimism is mostly due to the fact that the defunct Mt. Gox exchange’s creditors have been given until October 2025 to repay funds owed to them. It puts off the date of when 44,905 BTC would be sold to relieve the immediate market pressure.
Bitcoin Supported By Trump
Moreover, China’s forthcoming issuance of $325 billion to bolster its economy as well as OKX’s launch of a fully licensed crypto trading platform in the UAE are viewed as gateways to allow China-based traders to rejoin the crypto market. Chinese money told Patric H. in advance, “Chinese money is gonna enter crypto in Q4.”
Meanwhile, both institutional investors and whales are stockpiling Bitcoin, with exchange reserves at record lows. There is a potential supply shock, where what’s sold surpasses what is available, and that will push up prices even higher. This is corroborated by on-chain data which shows that new Bitcoin whales are accumulating new bitcoin, CryptoQuant’s Ki Young Ju noting these moves are important.
However, former President Donald Trump is gaining favor in swing states, which could have pro crypto implications, while the S&P 500 is close to recording its own all time highs historically, meaning good days ahead for Bitcoin.
Patric H also mentioned that in halving years, Q4 are bullish for BTC and technical indicators show the same conditions. The MACD signals a bullish cross for the first time since April, BTC closed above its weekly downtrend and its 50-week EMA — and this could signal the start of an upward trend.
No matter how deep the pullbacks, the market structure is now an uptrend, said Patric H., who concludes, ‘Dips are for buying now.’
