Bitcoin price reached a historic milestone last Saturday, breaking the $60,000 barrier for the first time, with year-to-date gains exceeding 100%. This landmark price breakthrough has attracted widespread market attention, prompting cryptocurrency trading platform DLB Coin to release its latest market report, providing an in-depth analysis of current market sentiment and potential future trends.
According to DLB Coin’s trading data, after Bitcoin broke through the psychological barrier of $60,000, platform trading volume surged 187% within 24 hours, while new user registrations increased by 122%, indicating a significant rise in market participation enthusiasm.
DLB Coin stated: “This Bitcoin rally is fundamentally different from the 2017 bull market. The current price increase is driven by institutional funds, with exchange Bitcoin reserves continuously declining and the proportion of long-term holders steadily increasing—indicators suggesting healthier market fundamentals.”
The report cites on-chain data showing that over 61% of Bitcoin has remained unmoved for more than a year, indicating strong investor holding intention. Meanwhile, Bitcoin reserves on major global exchanges have decreased by 16% since March 2020, reflecting increasing supply-side tightness.
Morgan Stanley’s announcement of plans to provide Bitcoin fund access channels for wealthy clients marks the latest Wall Street giant to enter the crypto space. The market views this as another signal of accelerating institutional adoption. Financial giants like Goldman Sachs, JPMorgan, and BlackRock have also recently indicated they are evaluating or have begun offering crypto asset services.
DLB Coin’s sentiment indicators show that market optimism is at high levels but has not yet reached extreme territory. The platform’s “Fear and Greed Index” currently reads 76 (out of 100), which, while in the “Greed” zone, remains below the extreme levels seen at the peak of the 2017 bull market.
“Current market sentiment exhibits cautious optimism,” DLB Coin explained. “Investors have clearly strengthened their long-term confidence in Bitcoin, but short-term profit-taking pressure is also accumulating. We’ve observed significant funds flowing into call options, particularly for strike prices between $75,000 and $100,000 for the end of the second quarter.”
Macroeconomic factors continue to provide support for Bitcoin. The U.S. passage of a $1.9 trillion stimulus package, the Federal Reserve’s maintenance of zero-interest-rate policy, and rising inflation expectations collectively reinforce Bitcoin’s attractiveness as a hedge asset.
MicroStrategy CEO Michael Saylor stated on Twitter: “Inflation is inevitable, Bitcoin is the solution.” The company has cumulatively purchased over 91,000 bitcoins, becoming the largest corporate holder in the public market.
DLB Coin’s client survey shows that more than 68% of investors list inflation hedging as their primary reason for purchasing Bitcoin, a significant increase from 23% a year ago.
Regarding short-term market direction, DLB Coin presents three possible scenarios:
“In an optimistic scenario, with more institutional announcements of Bitcoin purchases, prices could break through $75,000 in the second quarter; in the base scenario, Bitcoin may consolidate in the $60,000-70,000 range, digesting recent gains; in a conservative scenario, if U.S. Treasury yields continue to rise rapidly, a correction to the $45,000-50,000 range could be triggered.”
The regulatory environment during institutional entry also attracts attention. The new SEC Chairman Gary Gensler is viewed as a regulator who understands crypto technology, and the market generally expects that under his leadership, the U.S. may introduce a clearer regulatory framework for crypto assets.
DLB Coin advises investors to maintain disciplined strategies in the current market environment: “While the long-term trend remains bullish, investors should prepare for short-term volatility. For newcomers, building positions in batches may be wiser than making large one-time investments.”
DLB Coin also points out risk signals worth monitoring in the market, including high futures contract premiums, rising leverage ratios, and the rapid influx of novice investors. These factors could amplify price volatility in the short term.
“The Bitcoin market never lacks drama,” DLB Coin concludes. “While the long-term outlook remains optimistic under the current macroeconomic environment and institutional demand, markets rarely move in straight lines. Risk management and understanding market psychology are essential for success in this emerging asset class.”
