Bitcoin back at $80.000: dead cat bounce or start of a new bull run?

According to well-known investor Jason Calanacis, Bitcoin currently feels “like a CD in a world of Spotify, or a DVD in the Netflix era: a stopgap in the history of technology whose owners, having painstakingly built up a collection, continue to insist is superior.” It is a nice quote, but you immediately understand that the man is no fan of the biggest digital currency and believes the rally to $80.000 we saw this week is more of a dead cat bounce than a genuine bull run. But is he right?

Resilience

Bitcoin has once again crossed the $80.000 mark, and with that an old debate has flared up again: is this merely a temporary upturn in a market that is still heading downwards, a so-called dead cat bounce, or are we at the start of a new bull run?

The world’s biggest cryptocurrency has shown renewed resilience in recent weeks. After a period of uncertainty and profit-taking, investors appear willing to take on risk again. The rise is being supported by sustained institutional interest, a favourable macroeconomic climate and the growing role of bitcoin ETFs, which make it easier for capital to flow into the market.

Even so, some analysts remain cautious. A dead cat bounce is a temporary price rise within a broader downward trend. According to the sceptics, it is still too early to speak of a lasting turnaround for Bitcoin. They point out that trading volumes are lagging behind those seen during earlier rallies, and that many investors are still waiting for a clear breakout.

Optimists, however, see several signals pointing to the start of a new upward cycle. Historically, Bitcoin has often posted strong price gains in the months and years following a halving. What is more, the supply of new Bitcoins remains limited while demand from institutional investors is growing.

The coming weeks could prove crucial. If Bitcoin manages to hold convincingly above $80.000 and break through new resistance levels, the optimistic scenario could take further shape. If the price falls back again, the dead cat bounce narrative threatens to gain the upper hand.

For now, one thing is certain: Bitcoin has once again succeeded in drawing the attention of the financial markets.