Key Takeaways:
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Glassnode data data earns bitcoin income metrics as a Bull Market market signal.
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Bitcoin capital flows have weakened, and the huge income has sank since the BTC hit $ 124,000, but a new full time high can come in two to three months.
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New and short-term holders accumulate, offset the seller’s pressure.
Bitcoin (Btc) has entered a “historic late stage” of its market cycle, with metrics that earn revenue and capital flows that reveal signs from previous top tops, according to the platform of glassnode analytics.
Data has introduced that the current Bitcoin cycle has shared similarities in 2015–2018 and 2018–2022 running, where all time highs (ATH) reached about two to three months after the current phase of relatives.
The firm noted that the shifting Bitcoin supply spent 273 consecutive days above the +1 standard deviation of the deviation band, second only to the 335-day streak visible during 2015–2018. Meanwhile, long-term holders (LTHS) realized that more income than all except a previous cycle, which signed that the pressure of the sale was rising.
“These signals reinforce the view that the current cycle is stable in the history of the late stage,” Glassnode mentioned In its weekly report, while also taught that in previous cycles, conditions have often been preceded by new hours high for months.
Bitcoin slipped almost 9% from hitting $ 124,000, with a weaker capital flowing with the denial. The BTC realizes the growth of the cap that has sank at 6% per month just in recent weeks, compared to 13% during the $ 100,000 breakout in late 2024.
Volumes that earn income also soften. Glassnode noted that ATH’s latest attempt was found to be realized that earning a revenue falling under spikes visible to $ 70,000, $ 100,000, and $ 122,000. Despite this, realized losses remain moderate to $ 112 million per day, well within historical standards for local corrections.
Related: Bitcoin’s struggles with $ 113K as Fed Bowman’s Bowman hints on faster rate cuts
Bitcoin demand is evident, but new highs are not elusive
In spite of the harassment of income extracts, cryptoquant data suggests updated demand. The youngest cohort of Bitcoin holders (purses under one month old) filed a net positive, with a supply of this group that dropped 73,702 BTC in September.
Short -term holders also increase aggressiveness, accumulating 159,098 BTC. This new capital is absorbing coins distributed by long-term holders (LTHS), a dynamic visible in long bull markets.
However, onchain views from Santiment warned Against the hope of an immediate rebound. The eagerness of retail “Buy Dip” entrepreneurs has a history ahead of the downside, while short positions remain inadequate to fuel a basic short squeeze.
The market sentiment has become more negative as Bitcoin fell below $ 114,000, but the analysts recorded fear levels had not yet reached the capitulation.
At the same time, whales continue to accumulate, with purses holding 10 to 10,000 BTCs, adding more than 56,000 coins since late August. Balances of exchange also dropped more than 31,000 BTCs in the last month, reducing the near term sales pressure.
Related: Dip sold? These metrics say this $ 112k Bitcoin price is local below
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
