Bitcoin’s Rally May Not Be Over Yet, Cryptoquant Analysts See 25% More Upside

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The world’s largest cryptocurrency, Bitcoin, recently hit a new record above $123,000, only to pull back below $118,000 as profit-taking kicked in. Despite all, on-chain signals hint at more upside ahead, as a key metric used by analysts shows that short-term holders have not yet reached the usual profit levels that trigger heavy selling. 

Does this mean Bitcoin still has room left for a bigger rally?

Bitcoin Bull Run Isn’t Over

According to data shared by CryptoQuant author Darkfost, the Short-Term Holder Market Value to Realized Value (STH MVRV)…



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Bitcoin’s Rally May Not Be Over Yet, Cryptoquant Analysts See 25% More Upside


The world’s largest cryptocurrency, Bitcoin, recently hit a new record above $123,000, only to pull back below $118,000 as profit-taking kicked in. Despite all, on-chain signals hint at more upside ahead, as a key metric used by analysts shows that short-term holders have not yet reached the usual profit levels that trigger heavy selling. 

Does this mean Bitcoin still has room left for a bigger rally?

Bitcoin Bull Run Isn’t Over

According to data shared by CryptoQuant author Darkfost, the Short-Term Holder Market Value to Realized Value (STH MVRV)…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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