3 reasons why Bitcoin analysts believe BTC price recovery is overdue

Bitcoin price data strongly suggests that the current BTC price correction is a buy-the-dip opportunity.

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Is Now The Time To Buy Bitcoin? Latest Chart Analysis Says Yes Heres Why

Bitcoin has recently been spotlighted due to an intriguing buy signal identified on its hourly chart. This indication emerges amidst a notable fluctuation in Bitcoin’s price, setting the stage for potential short-term gains. Renowned crypto analyst Ali has highlighted a significant development on the hourly chart of Bitcoin, specifically noting a ‘buy signal’ detected by the TD Sequential indicator. This technical tool, developed by Tom DeMark, is respected for its ability to predict price reversals by analyzing exhaustion points in trends. Related Reading: Buckle Up: Bitcoins Ride to $74K Could Start Any Minute Heres Why Decoding The TD Sequential Indicator On Bitcoin Chart The TD Sequential operates in two main phases: the setup and the countdown. The setup phase requires nine consecutive price bars closing progressively higher or lower, depending on the trend’s direction. Following a successful setup, the countdown phase begins, searching for a sequence of 13 bars that continue the trend but must close beyond the high or low of two bars prior. Completing this countdown typically signals an exhausted trend, poised for a reversal. Bitcoin’s hourly chart shows the completion of this pattern, suggesting an imminent uptick over the next few hours. The TD Sequential presents a buy signal on the #Bitcoin hourly chart, predicting a potential rebound of one to four candlesticks for $BTC! pic.twitter.com/pnAMFHHbPe Ali (@ali_charts) June 11, 2024 This technical prognosis arrives as Bitcoin contends with downward pressure, recently dipping below $67,000, a price level not seen since late May. Currently, Bitcoin is trading at $66,855, marking a 3.7% decline, which has sparked widespread commentary among investors and analysts. Buy The Dip, Says Mow Samson Mow, the CEO of Jan3 and a notable Bitcoin advocate, recently stirred the Bitcoin community with a post on his X account that included an optimistic forecast for Bitcoin’s price. Revisiting his earlier post, he added a highly optimistic prediction that Bitcoin could reach as high as $1 million per BTC. In his post, Mow used a visual diagram to compare the current available capital in the market with the amount of Bitcoin available and potentially mine-able in the future. The illustration did not specify quantities but effectively showed the small amount of Bitcoin available relative to the vast amount of capital that could potentially purchase it. The diagram, designed as overlapping triangles resembling an hourglass, emphasized the scarcity of Bitcoin in comparison to available capital. Related Reading: Bitcoins Stubborn Stand Below $100K: Whats Holding It Back? Mow’s post highlighted his perspective on the ongoing price dip, suggesting that despite the drop, the fundamental outlook for Bitcoin remains strong due to its limited supply and growing adoption. He use the term “BTFD” “buy the f**king dip” to suggest a bullish outlook. Feels weird seeing #Bitcoin price go down when we’re at a level of unprecedented adoption. BTFD! Samson Mow (@Excellion) June 11, 2024 Featured image created with DALL-E, Chart from TradingView

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Bitcoin To Reach Escape Velocity? Analyst Makes The Case

An analyst has explained how Bitcoin seems to be showing a good setup to reach escape velocity based on the trend in this indicator. Bitcoin VWAP Oscillator Has Been Showing A Bullish Divergence As explained by analyst Willy Woo in a new post on X, a bullish divergence has appeared to be forming in the [...]

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How High Can Bitcoin Go Before A Top? Analyst Chimes In

An analyst has explained how the Bitcoin rally could still have room to run before hitting a top based on the data of this indicator. Bitcoin Macro Oscillator Isn’t At Historical Top Zone Yet In a new post on X, analyst Willy Woo has discussed the recent trend developing in the Bitcoin Macro Oscillator (BMO). This indicator combines four different metrics to provide an oscillating value around the zero mark. The indicators in question are the market Value to Realized Value (MVRV) ratio, Volume-Weighted Average Price (VWAP) ratio, Cumulative Value-Days Destroyed (CVDD) ratio, and Sharpe ratio. Related Reading: Is Mt. Gox A Worry For Bitcoin? Crypto Analyst Weighs In The chart below shows how the oscillator based on these metrics has fluctuated in value over the past few Bitcoin cycles. From the graph, it’s visible that tops in the cryptocurrency’s price have historically coincided with the metric reaching relatively high levels. More particularly, the 2013 and 2021 tops occurred when the indicator breached the 1.8 level, while the 2017 peak occurred when the oscillator hit 2.4. So far, in the current rally, the oscillator has achieved a peak value of 1.2. This high coincided with the asset’s all-time high (ATH) price, which continues to be the top of the run thus far. When considering the historical precedent, though, this value doesn’t seem to be high enough for the top to have been cyclical. As the coin’s price has consolidated since this high, the oscillator has cooled off, now hitting just 0.69. Thus, the asset has gained more distance from the zone where tops have occurred in the past. “This 2.5 months of consolidation under bullish demand has been very good for Bitcoin; it means the price has more room to run before topping out,” notes Woo. The analyst suggests that BTC could now have 2 to 3 levels of the BMO to climb before reaching the macro top. Woo has also pointed out a potential positive sign brewing for Bitcoin regarding its net capital flows. Below is a chart showing this metric’s trend over the last few years. As displayed in the graph, net capital flows into Bitcoin were quite high during the surge toward the price ATH, but money stopped flowing in as the asset fell into sideways movement. Related Reading: Ethereum Deposits At 4-Month High: Whales Preparing For Selloff? During May, though, the net flows have finally reversed the trend, as they have been on the rise once more. This fresh demand can naturally be bullish for the cryptocurrency’s value. BTC Price Bitcoin surged above the $70,500 level earlier, but the coin has since slumped back down, trading around $67,800. Featured image from Dall-E, woocharts.com, chart from TradingView.com

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Bitcoin Profit-Taking Has Completed, Top Analyst Reveals

An analyst has explained how profit-taking looks to have finished for Bitcoin in what has been a “very healthy reset” for the market. Bitcoin SOPR Suggests Profit-Taking From Investors Has Cooled Off In a new post on X, analyst Willy Woo has discussed about the latest trend occurring in the Bitcoin Spent Output Profit Ratio (SOPR). The SOPR is an on-chain indicator that basically tells us about whether the Bitcoin investors as a whole are selling their coins at a profit or loss right now. When the value of this metric is greater than 1, it means that the average holder in the sector could be assumed to be moving coins at some net profit currently. On the other hand, the indicator being negative implies loss realization is the dominant mode of selling in the market. Related Reading: Chainlink Becomes Crypto Winner With 21% Rally: Whats Driving This? Naturally, the SOPR being exactly equal to 1 suggests the total profits being realized are exactly equal to the losses at the moment and thus, the investors are just breaking-even on their selling. Now, here is a chart that shows the trend in the Bitcoin SOPR over the last few years: The value of the metric seems to have been neutral in recent days | Source: @woonomic on X As is visible in the above graph, the Bitcoin SOPR had spiked to highly positive levels earlier when the cryptocurrency’s price had observed its rally towards a new all-time high (ATH). This would suggest that the investors had been participating in some aggressive profit-taking during this run. From the chart, it’s visible that such a trend was also observed around the start of the 2021 bull run. With the consolidation, the asset has gone through since the ATH, the indicator’s value has also seen a cooldown. As Woo has highlighted in the chart, the metric has now approached the neutral mark. It would appear that two months after the profit-taking peaked, the appetite for harvesting gains has potentially finally disappeared among the investors. The analyst says this is a very healthy reset for the cryptocurrency, especially as the capital inflows have once again been picking up for the coin. Looks like the indicator has gone through a turnaround recently | Source: @woonomic From the chart, it’s apparent that the Bitcoin network flows had been following an overall downward trajectory earlier when the consolidation was taking place, but recently, capital injections into the coin have once again been on the rise. Related Reading: Bitcoin Still Has A Lot Of Room To Run Before Reversal, Says Top Analyst This is a similar trend to what was observed earlier in the year during the crash following the approval of the spot exchange-traded funds (ETFs). The turnabout in capital inflows back then was what led into the rally that took the cryptocurrency to the current ATH. BTC Price Bitcoin had seen a pullback under $66,000 yesterday, raising worries that the recovery surge had already fizzled out. This drop only lasted briefly, though, as the coin has returned above $67,000 today. The price of the asset appears to have been consolidating sideways over the last few days | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, woocharts.com, chart from TradingView.com

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Bitcoins $66.9K price holds strong, casts doubts on a deep correction

Despite ongoing speculation about Bitcoins next potential deep correction, some cryptocurrency analysts disagree on its likelihood.

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Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week

Crypto analyst CryptoCon has revealed a key level to watch out for as Bitcoin attempts to break critical resistance levels. The analyst suggested that a drop to this price level may not be bad for Bitcoin and could instead be necessary for it to finally make that price rally.  $57,938 Is The Price Level To Keep An Eye On CryptoCon mentioned in an X (formerly Twitter) post that $57,938 is the new price to watch for the 20-week EMA (Exponential Moving Average). He noted that such a price drop might be necessary, stating that boredom and sideways price action allow room for growth. Based on his analysis, any potential price decline that Bitcoin experiences is a healthy correction and shouldnt be considered a bearish reversal.  Related Reading: Dogecoin Derivatives Volume Jumps 111% As Open Interest Spikes, But What About Price? Meanwhile, Bitcoin is showing impressive strength on the charts, with CryptoCon stating that the flagship crypto continues to hold the 20-week EMA as support while visiting the almost absolute bottom of the cycle 4 DMI support zone. CryptoCons positive outlook for Bitcoin provides assurance that a parabolic move is still on the horizon.  Crypto analyst Rekt Capital also recently shared a positive outlook for Bitcoin. He revealed that Bitcoin was out of the Danger Zone, suggesting that the flagship crypto was primed for a move to the upside. The analyst also remarked that Bitcoin was running out of unremarkable months before it began its parabolic phase.  Crypto analyst Mikybull Crypto hinted that Bitcoin was already showing signs of this imminent parabolic phase. In an X post, he mentioned that Bitcoin was displaying a cup and handle reversal pattern on the weekly chart and that the breakout will be explosive and will send it to a cycle top. While agreeing with Mikybull Cryptos analysis, Crypto analyst BitQuant mentioned that $95,000 will be achieved in one move, and that is quite obvious. He, however, noted that it remains uncertain when this move will happen and called for patience as everyone waits for Bitcoin to perform as expected. BitQuant further advised that it might be better to leave the market for those who cant avoid the torture, claiming that there will be a lot of pain for those with weak nerves in the coming months. Based on Arthur Hayess prediction, investors might have to wait until August for that big move from the flagship crypto.  Bitcoin Is Still Far From Its Market Top In a recent X post, Rekt Capital suggested that Bitcoin was still far from its market top. He highlighted past cycles, which show that the bull market peak usually occurs between 518 and 546 days after the halving. Based on this, the analyst predicts that the flagship crypto will likely peak in September or October 2025.  Related Reading: Shiba Inu Volume Flips Dogecoin, Will SHIB Price Flip DOGE If This Analysts Prediction Comes True? The crypto analyst also acknowledged that Bitcoin has been accelerating in this cycle by over 200 days. However, he remarked that Bitcoin could resynchronize with past halving cycles if it continues to consolidate for longer.  Featured image from CoinDesk, chart from Tradingview.com

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Are We Out Of The Woods? Analyst Bullish On Bitcoins 6-Figure Future

Bitcoin (BTC) began the month with the deepest retrace of the cycle, falling to the $56,000 support level. The retrace raised alarms for some crypto investors and market watchers, who feared the bull run had ended. Since then, the largest cryptocurrency by market capitalization has recovered crucial levels, and analysts have identified bullish patterns on [...]

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Is This Cycles Bitcoin Bottom In? Analysts Forecast BTC Bounce Back

As May 1st started, Bitcoin (BTC) faced a new correction that made the price stumble under the $60,000 support level. The flagship cryptocurrency has seen several retraces during this bull cycle, with BTC swiftly recovering the crucial support zones each time. However, in the past 24 hours, the largest cryptocurrency by market capitalization has struggled to regain its momentum. Some analysts believe Bitcoins bottom this cycle might be in as this correction officially became its deepest retrace. Related Reading: If History Repeats, This Is How Bitcoin Price Will Perform In The Next 6 Months Is The Bitcoin Bottom Here? In the early hours of Tuesday, Bitcoin started to plunge from the $64,000 price range. As the day continued, BTC prolonged its fall to briefly trading around $59,958 – $59,191 before recovering. This time, the recovery didnt last long as Bitcoins price resumed its downward trajectory to $57,000. In an X thread, crypto trader Milkybull examined some data suggesting the bottom might finally be in. According to the analyst, BTC is following the 2017 PA. This would suggest that either the bottom is in or close. Moreover, he urged investors to remember that while good news usually signals the top, bad news signals a bull markets bottom. In the thread, the trader pointed out that the Bitcoin Bull Market Support Band indicator historically serves strong support during BTCs bull cycles. As a result, he considers that the flagship cryptocurrency might wick through the support and bounce back. 2024's Bitcoin Bull Market Support Band indicator resembling 2017's. Source: MilkybullCrypto on X According to the analyst, Bitcoin and global liquidity are also strongly correlated, with BTC currently at a level it has previously bounced back from. These bouncebacks initiated huge rallies across the crypto market in October 2022 and October 2023. Lastly, the thread highlighted that Bitcoin is at a critical decision point for the local bottom. The trader considers that while some call for a $48,000 bottom, the $51,000 support level might be where BTC bounces back to resume its cycle to this cycles top. Bitcoins Deepest Retrace This Cycle According to crypto analyst and trader Rekt Capital, this correction has officially been the deepest BTC retrace this cycle. Per the post, todays -23.64% retrace surpasses the -22.91% retrace seen in February 2023. The analyst also compared this cycles Post-Halving pullback to 2016s. Moreover, the trader considers that this bullish cycle might be more similar to the 2016 one than investors think. #BTC We are here (orange circle) And we've seen Post-Halving pullbacks like this in the past (e.g. 2016)$BTC #Bitcoin #BitcoinHalving pic.twitter.com/OvOcmJTzFk — Rekt Capital (@rektcapital) May 1, 2024 Previously, Rekt Capital listed three reasons these two cycles might be similar. Per the trader, the resemblances include the Pre-Halving Re-Accumulation Range Breakout, the Pre-Halving Retrace Beginning, and the Similar Initial Reaction after the beginning of the Pre-Halving Retrace. After todays retrace, the analyst added the Continued downside in the three weeks after the Halving as a fourth similarity between the 2016 and 2024 cycles. Like eight years ago, Bitcoin faces an additional downside below the Range Low of its Re-Accumulation Range in the three-week window after Bitcoins Halving. Moreover, the analyst suggests that the current price development comes as no surprise, as it mirrors 2016s post-Halving Danger Zone. As of this writing, the flagship cryptocurrency is trading at $57,794.89. This correction represents a 6.2% drop in the past 24 hours. Similarly, BTC is registering 13.4% and 17.7% price decreases in the weekly and monthly timeframes. Related Reading: Bitcoin Price Nosedives, Can Bulls Save The Key Support at $60K? Bitcoin's price performance in the weekly chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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Is Bitcoin Getting Ready For An Explosive Breakout? These Analysts Believe So

The fluctuations in Bitcoin’s price have marked the tempo of the crypto market and the communitys sentiment. While some feel pessimistic about the rally slowdown, some analysts believe the flagship cryptocurrency is just getting ready to reach higher notes. Related Reading: Is The Bitcoin Top Already Here? This Historical Pattern Says So Next Stop: Bitcoins Parabolic Upside Crypto analyst and trader Rekt Capital considers Bitcoin (BTC) is currently awaiting a period of consolidation. In an X post, the trader highlighted that, during the previous Halvings, BTC saw Re-Accumulation Ranges. The analyst shared his chart for Bitcoin phases during the Halving, which he has previously used to explain BTC was at the Last Pre-Halving Retrace before April 19. At the time, the analyst pointed out that the re-accumulation phase was next. Bitcoin went through one during the previous Halving, as seen in the chart. The re-accumulation consisted of two consolidation periods followed by the Post-Halving Parabolic Upside, which saw BTC reach last cycles all-time high (ATH) of $69,000. Bitcoin phases during the "Halving". Source: Rekt Capital on X Rekt Capital highlighted that, during this cycle, the flagship cryptocurrency has already experienced five re-accumulation ranges. Similarly to the last cycle, the latest re-accumulation phase seems to have started during the Pre-Halving Rally phase. Per the analyst, this will be followed by the Parabolic Upside if history repeats itself. Analyst Mikybull seems to share a similar view to Rekt Capitals, as he highlights that Bitcoins parabolic rally is loading. The re-accumulation breakout is set to be explosive, and not many are prepared for this, he added. The analyst explained that the RSI on a macro scale is at the same level as it was in 2017, which was followed by a huge rally to cycle top. Based on this, he believes the current consolidation comes from institutions preparing for a huge rally to cycle top. Analyst Sets Crucial Level For Bitcoin’s Breakout A day before Bitcoins Halving, the cryptocurrency faced a correction that shredded 7% of its price in a few hours. BTC went from hovering between the $64,000-$63,000 price range to trading below the $60,000 support zone. Since then, the largest cryptocurrency by market capitalization appears to have steadily recovered from the drop. Over the weekend, Bitcoin regained the $65,000 support level before testing the $66,000 one, which it reclaimed on Monday. Over the last few days, BTC has hovered between $66,000 and $67,000. However, it has not been able to successfully test the resistance level set at the $67,000 price range. According to the crypto analyst Bluntz, Bitcoins most recent performance suggests that the price will continue to move sideways between the $66,000 and the $67,000 range. However, he also considers that BTC is gagging for a breakout soon, as the chart displays a bullish pennant pattern forming. Per the analyst, once we clear 67k, the whole market will fly above the latest ATH. As of this writing, Bitcoin is trading at $66,665, a 7.5% increase from a week ago and a 66.22% in the last three months. Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End Bitcoin's performance in the weekly chart. Source: BTCUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com

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Is Bitcoin About To Skyrocket? Bitfinex Analysts Spot Familiar Patterns From December 2020

According to analysts at Bitfinex, Bitcoin and its recent activity on exchanges reflects a pattern reminiscent of December 2020, hinting at a possible growth phase. The exchanges latest report highlights a significant decline in the supply of Bitcoin held by long-term investors on centralized exchanges, reaching its lowest levels in 18 months. This trend, coupled [...]

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Analysts Bullish On Bitcoin Despite Peter Schiffs $20,000 Doom Scenario

Over the weekend, the Bitcoin (BTC) crash had the crypto community on its toes. With the price dropping to $60,000, many investors worried that the flagship cryptocurrency was in trouble ahead of the Halving event. Amid the correction, Bitcoin critic Peter Schiff claimed that his previous predictions regarding spot Bitcoin ETFs (exchange-traded funds) were correct [...]

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Whats A Simple Strategy For Buying & Selling Bitcoin? This Analyst Answers

An analyst has revealed a simple strategy for buying and selling Bitcoin using the historical pattern followed by two BTC on-chain indicators. These Bitcoin On-Chain Indicators Have Followed A Specific Pattern Historically In a post on X, CryptoQuant author Axel Adler Jr. discussed a simple strategy for timing buying and selling moves for Bitcoin. The [...]

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$9.5 Billion In Bitcoin Options Poised To Expire This Friday: Market Turbulence Ahead?

This Friday, the spotlight is turned to Deribit, the leading crypto derivatives exchange, as it gears up for a notable event in its trading history. Particularly, the exchange is poised to witness the expiration of over $9.5 billion in Bitcoin options open interest. For context, Open interest refers to the total number of outstanding derivative [...]

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Bitcoins fair value: BTC may never fall below $60K, says economist

Other key indicators suggest that Bitcoins long-term floor price is above $40,000.

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Bitcoin Weekly RSI Entering Power Zone Last Time BTC Soared 80%

Bitcoin experienced an explosive surge yesterday, with bulls driving the price to a new all-time high (gain) at $89,980. This relentless uptrend highlights growing optimism among investors as Bitcoin continues to break new ground.  Renowned trader and analyst Cheds recently shared a compelling technical insight, noting that Bitcoins weekly Relative Strength Index (RSI) is nearing the overbought zonehistorically a very bullish signal for BTC. Entering this zone could indicate heightened demand and momentum, suggesting further upside potential for Bitcoin in the near term. Related Reading: Ethereum Weekly Volume Hits $60 Billion As ETH Aims For Yearly Highs The coming days will be critical as investors anticipate a possible pullback to enter fresh positions at lower levels. However, the current price action remains bullish, showing few signs of weakness.  If the price holds, it could fuel even greater buying interest, extending Bitcoins upward momentum. Cheds analysis underscores the strong technical setup for BTC, with RSI nearing a point that could attract more bullish attention. Investors will be watching closely, as any sustained movement in this high momentum phase may set the stage for Bitcoins next big leg up. Bitcoin Showing Strength  Bitcoin has surged by over 32% in less than a week, with rapid, aggressive moves to new highs reflecting strong market sentiment. Such euphoria often precedes a correction, yet recent data indicates Bitcoin could sustain this upward momentum.  Top trader and analyst Cheds recently shared a technical analysis on X, highlighting that Bitcoin’s weekly Relative Strength Index (RSI) is nearing the “power zone,” known as the overbought territory. Historically, this zone has signaled powerful bullish phases for BTC. The last time Bitcoin’s RSI reached similar levels, the price rallied from around $40,000 to $70,000, suggesting another substantial surge might be on the horizon. As Bitcoin enters this new bullish phase, a continuation of the uptrend seems likely, but it may not be a straightforward climb. Even in strong bull markets, BTC typically requires periodic pullbacks to consolidate and gather strength for further gains. A healthy retrace would provide necessary support levels and allow BTC to “refuel” before another upward push. This retracement is particularly important in avoiding overstretched conditions that could lead to a more severe correction. Related Reading: Ethereum Analyst Sees Altseason Potential As BTS Is Still Outpacing ETH Time To Buy Altcoins? While the current bullish momentum points toward higher levels, traders should anticipate some fluctuations, which are part of a sustainable uptrend. Bitcoin’s ability to hold key support levels during any potential pullback will be crucial for maintaining the overall bullish structure. Bullish Price Action: Key Levels To Watch Bitcoin is trading at $88,000 following two days of unexpected price appreciation, defying analysts’ expectations of a pause around $77,000 and a possible pullback to the previous all-time high of $73,800. Instead, Bitcoins price has continued its upward momentum, bringing it closer to the significant psychological level of $90,000. Many investors consider this level a key supply zone where profit-taking could emerge. Despite the rapid climb, market sentiment remains highly bullish, and the price structure suggests that Bitcoin is still targeting the much-anticipated $100,000 milestone. The current price action reflects a strong bullish trend, but a retracement toward the $77,000 level could be a healthy move, allowing BTC to establish a robust demand base. Such a pullback would offer a consolidation phase, which is typical before another major leg-up in a sustained rally. Related Reading: Avalanche Nears Breakout Top Analyst Sets $420 Target For AVAX This Cycle In the meantime, Bitcoins steady price action above recent highs is boosting investor confidence and keeping the overall outlook bullish, as BTC appears well-positioned for further gains. Featured image from Dall-E, chart from TradingView

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Bitcoin price dip to $92.5K caused by Fed interest rate concerns: Analyst

Rising concerns about Federal Reserve monetary policy and rising bond rates are having a negative impact on Bitcoins price.

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Bitcoins Latest ATH: Is The Top Finally In Or Just Getting Started?

In the past months, Bitcoin has broken multiple resistance levels to achieve consistent all-time highs each month. So far, the asset’s latest all-time high sits above $109,000 marking a more than 150% increase in year-over-year performance. Amid this price performance, CryptoQuant analyst Gaah has recently examined Bitcoins current position in the market cycle and whether the asset might be nearing a peak. Related Reading: Bitcoin Profit-Taking Drops 93% From December Peak Whats Next For BTC? Bitcoin: Is The Top In? According to Gaahs analysis, the Index of Bitcoin Cycle Indicators (IBCI)a composite metric that includes on-chain data points like the Puell Multiple, MVRV, NUPL, and SOPRhas entered the “distribution region” for the first time in eight months. While this doesnt “yet confirm a market top,” it serves as a cautionary signal that Bitcoin could be approaching the final stages of its current bull cycle. For IBCI to hit a definitive top, all its components would need to reach their historical peak levels, according to the analyst. However, as long as the IBCI remains above 50%, the broader market trend remains bullish, indicating continued demand and the potential for further price increases. Beyond the IBCI, Gaah notes that additional on-chain indicators present a mixed picture. While the NUPL metric hovers near its upper range, suggesting a possible end to the bull run, the Puell Multiple remains closer to the lower zone, which could indicate room for continued growth. This interplay of signals suggests that the market may not have reached a definitive top just yet. According to Gaah, historically, a fully realized IBCI peak has preceded corrections and longer-term bear phases. However, the current position offers room for optimism, provided that demand remains strong and other indicators remain supportive. Related Reading: Bitcoin Capital Inflows See Notable Slowdown, But Is This A Worry? Another Diverging Interpretation In contrast to Gaahs cautious perspective, another CryptoQuant analyst, Burak Kesmeci, highlights a different scenario using the Bitcoin NVT Golden Cross. This metric, designed to spot local tops and bottoms, recently fell to its lowest point in 60 days, signaling a potential “local bottom.” Kesmeci explains that historically when the NVT Golden Cross drops below -1.6, it often indicates that the asset is trading within a bottom range. As Bitcoin recently pulled back by about 7.5% after reaching its all-time high, the metrics current reading could be a precursor to renewed upward momentum. Kesmeci wrote: Rather than indicating a specific price level, this metric suggests that Bitcoin may be trading within a local bottom zone. Historically, such signals have often preceded recovery and trend reversals, making it an important indicator to monitor. Featured image created with DALL-E, Chart from TradingView

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Bitcoin ETFs approach $110B as analyst calls $200K BTC in 2025

US-based spot Bitcoin ETFs now hold over 5.7% of the entire Bitcoin supply, with analysts seeing it as a price catalyst toward $200,000. United States-based spot Bitcoin exchange-traded funds (ETFs) are nearing a significant milestone following record-breaking growth during 2024 as BTC crossed the $100,000 price level. The US spot Bitcoin (BTC) ETFs are just

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