Bitcoin Posts Eight Consecutive Daily Gains for First Time Since 2021

Bitcoin has risen for eight straight trading sessions for the first time in nearly four years, CoinDesk reports. The rally began on March 9, lifting Bitcoin from around $68,000 to above $75,000, with some analysts attributing the move to capital flows amid escalating Middle East geopolitical tensions. Historical data show that in roughly 60% of similar multi-day rallies, Bitcoin posted further gains over the next 30 days, with a median increase of around 19%. However, comparable streaks have occurred in bear markets, including an eight-day rise in the same period of 2022 that preceded an approximately 30% decline over the following 30 days, and the market remains in the contraction phase of Bitcoin's four-year halving cycle.