Bitcoin (BTC) is well within a bull market, but certain metrics suggest that the cryptocurrency may have reached a short-term top. This means that BTC may experience a significant price correction before another rally ensues.
A report from the market analytics platform CryptoQuant revealed that the metrics that appear to be overheating are those pertaining to Bitcoin’s demand growth. Regardless, Bitcoin’s overall conditions remain bullish, and the CryptoQuant’s Bull Score Index is at 80. Historical data shows BTC has continued to rally, provided the index remains above 50.
Demand Metrics Are Overheating
CryptoQuant analysts report that BTC balances held by whales have increased by 2.8% over the past month. They also estimate Bitcoin’s demand growth to be at 229,000 BTC within the same time frame. This figure is close to the demand growth recorded in December 2024 at 279,000 BTC when the cryptocurrency surged past $100,000 for the first time.
Such paces often precede a slowdown
We współpracy z: https://cryptopotato.com/these-metrics-are-overheating-while-bitcoin-remains-bullish-cryptoquant/
