The post CryptoQuant: Bitcoin Top Still Far, $110K Close Could Ignite Rally appeared on BitcoinEthereumNews.com.

According to a recent analysis by CryptoQuant, Bitcoin’s (BTC) current price cycle shows no signs of a bull market peak. Data indicates that new investor activity, a key indicator of market tops, remains below historical extremes. The analytics suggest Bitcoin’s potential for further upside, with the $110,000 price level being a crucial target. Market Lacks Signs of Peak Activity Research from CryptoQuant demonstrates that new investor participation triggers higher transaction rates during upward Bitcoin markets. Market newcomers experiencing “fear of missing out” (FOMO) push young unspent transaction outputs (UTXOs) to very high levels. Recent data reveals that stakes in bitcoins active for under three months total more than half of all Bitcoin unspent transaction outputs. – Advertisement – The young UTXOs ratio falls substantially below the 70% benchmark established during market highs in 2013, 2017, and 2021. According to CryptoQuant data, active market behaviors demonstrate increasing participation yet are still below peak indicators. Market experts interpret the current trend as evidence that Bitcoin’s price can advance further before hitting a point of market explosion. Bitcoin UTXO Source: CryptoQuant An examination by the onchain analytics company Glassnode supports the discovery of CryptoQuant by reporting average levels of new investor activity. Bitcoin investor wealth has stayed below the records set during historical peak values over the last three months. Market analysis shows that expansion drives asset behavior instead of indicating an upcoming major market correction. Current market data from Glassnode reveals that typical bull market extremities driven by wide-reaching enthusiasm do not yet exist. Analysis of past market behavior finds new entrant activity to function as a precursor to price peaks. Bitcoin remains outside its crucial market phase based on its present market status. Bitcoin Consolidates While Analysts Predict Rally The $110,000 range serves as Bitcoin’s decisive obstacle to which traders and…

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Filed under: News - @ January 30, 2025 8:24 am