Is Bitcoin's Bull Run Just Getting Started?

Is Bitcoin’s Bull Run Just Getting Started?

Bitcoin’s recent breakout above $100,000 isn’t looking like a typical hype-driven spike. According to a fresh report from K33 Research, this time might really be different — and possibly more sustainable.

Real Demand, Not Just Leverage

One of the biggest shifts? The rally appears to be fueled by genuine spot market demand rather than risky derivative bets. Spot trading volume has climbed sharply, suggesting that both retail and institutional investors are buying actual BTC — not just gambling with leverage.

This indicates a maturing market. The speculative behavior that inflated past peaks seems to be giving way to more conviction-based buying. The message is clear: people aren’t just betting on Bitcoin, they’re choosing to own it.

Politics Playing a Surprising Role

The K33 report also points to what it calls the “Trump Trade” — a political tailwind driven by growing pro-crypto rhetoric. With expectations rising around looser regulation and more favorable policies, the market is responding with cautious optimism.

While the regulatory future remains uncertain, the tone has clearly shifted. That alone is helping to improve sentiment — and sentiment, in crypto, often drives capital flows.

What It Means for Traders

While this doesn’t guarantee a straight path up, the combination of strong spot buying and political support offers a healthier backdrop for long-term price stability. Corrections are inevitable, but the structure of this rally suggests it may be more resilient than the last.