ANALYSIS: Three Big Chain Indicators Suggest Bitcoin Hasn't Reached Cycle Top Yet

Bitget2025/01/16 16:30

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Bitcoin's price has retreated after briefly surpassing $100,000 and remains more than 8% below last year's all-time highs. Analytics suggest that Bitcoin has not yet reached a cycle top. 21Shares analysts note that the current MVRV ratio of 2.5 to 3 suggests that the market is not yet overvalued and is not close to bubble territory. The Net Unrealized Gains and Losses indicator also shows that the market as a whole is not yet profitable, suggesting that bitcoin has not entered an overheated state. Additionally, seller's risk ratios for long-term holders remain well below historical highs, and there is no significant selling pressure. The macroeconomic environment, potential interest rate cuts and expectations of Trump's return to the presidency could also be positive for the crypto market.

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