The current price action across the crypto market, especially when it comes to Bitcoin, has both bears and bulls alike in disbelief. Following the longest and among the most painful bear markets yet, both sides have become accustomed to rallies being swatted down the moment any confidence in the market has returned.
But in recent days, shorts have piled on, while the price has only increased. Bears are being taken by surprise as Bitcoin inches closer to the $6,000 resistance level that once played important support during the first half of the bear market. The current Bitcoin price is trading up nearly double from its 2018 low of $3,150 – does such growth suggest the bear market bottom is actually behind us?