Ansem: Bitcoin needs to return above $112,000, otherwise a bull market cannot be seen

BlockBeats News, on October 19, crypto KOL Ansem posted that judging from the weekly charts of XRP, SOL, and ETH, he simply cannot be optimistic about this market, especially with BTC's price falling below its 2024 peak. He does not see a bull market scenario, but rather the end of momentum and a decline in prices.

The market lacks new narratives, MSTR also peaked in November 2024, and the ETH/BTC ratio has risen just as it does at the end of every cycle. The only thing that could change his mind is if bitcoin returns above $112,000.