Bitcoin's Journey Beyond $100,000: No Bubble Yet

Bitcoin's Current Market Position

Bitcoin (BTC) has recently surpassed the $100,000 mark, yet it is not considered to be in a "bubble" phase, according to seasoned investor Jordi Visser. Despite Bitcoin's consistent price doubling over the years, its market behavior significantly differs from past tech bubbles, such as the 1990s Internet bubble.

Understanding Market Indicators

The current market does not exhibit the same characteristics as previous speculative frenzies, like the 2020-2021 NFT and meme coin booms. These periods were marked by widespread media excitement and remarkable altcoin performances. However, the altcoin market's current statistics suggest that a peak is still distant.

Ethereum and Bitcoin Dynamics

The ETH/BTC rate has reached a multi-year low, indicating that Ethereum's value against Bitcoin has not been this low since April 2021. Although Ethereum has rebounded above $4,000, it has yet to revisit its all-time high.

The Role of Crypto ETFs

Significant capital is being injected into Bitcoin and Ethereum ETFs in the U.S. and Hong Kong. Despite regulatory challenges, these crypto ETFs are the fastest-growing products in ETF history, showing that the market's potential is far from exhausted.

Comparing Bitcoin to the MAG7 Index

For Bitcoin to truly enter a bubble phase, it must rally against the MAG7 index, which includes major tech stocks like Apple, Microsoft, and Tesla. Historically, the parabolic growth of the BTC/MAG7 rate has marked the peak of Bitcoin price cycles.

Bitcoin's price dynamics and market indicators suggest that the crypto asset is still in a growth phase, and not yet a bubble, as it navigates through evolving market trends.