Bitcoin, Gold, Oil, and Regulation Signal Macro Shift Towards Bull Run

The cryptocurrency market has been showing signs of recovery, and analysts believe that this trend is likely to continue. According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.17T, up by 0.86% over the last 24 hours.

Bitcoin (BTC) traded between $61,558 and $62,980 over the past 24 hours and is currently trading at $62,652, up by 0.99%. While most major cryptocurrencies are trading mixed, several assets like HMSTR, GLMR, and TLM have seen significant gains of 53%, 48%, and 47% respectively.

A key indicator in Bitcoin's on-chain activity has hit its lowest reading since the FTX crash, which is a level that has historically preceded major bull runs. Additionally, oil speculators are cutting bullish bets, JPMorgan expects gold to rebound to $4,500 by Q4, and Citi's $60 Brent call gains credibility with every week of Hormuz normalization.

Solana led all blockchains in weekly activity with 29.84 million active addresses, while the UK FCA published a crypto framework that keeps the door open to global liquidity while MiCA stays restrictive. Bitcoin is currently only 16% above its realized price, which has historically returned 41% in six months.