Bitcoin breaks one-year downtrend, analyst says bullish momentum returns

Bitcoin: Bitcoin is the pioneering cryptocurrency that operates on a decentralized blockchain network using proof-of-work consensus. It functions as a digital store of value and is widely regarded as the benchmark asset in the crypto ecosystem. Analyst Gert van Lagen's recent assessment positions it as breaking a prolonged downtrend, signaling potential renewed bullish momentum. Gert van Lagen: Gert van Lagen is a Dutch macro strategist and technical analyst specializing in cryptocurrency markets. He provides insights on Bitcoin price action and broader market structures through his social media presence. His analysis in the current news highlights Bitcoin's technical breakout from a one-year downtrend. Market Sentiment: Analysts have recently signaled the end of the bear market for Bitcoin amid an extending crypto rally. Analyst Commentary: Experts including macro strategists and on-chain analysts have noted bullish technical breakouts and the start of a potentially strong bull phase.