The main dishes to remember:
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Glassnod data data indicate the measures to be taken from Bitcoin as a signal of the Tardif Taurus market cycle.
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Bitcoin capital entries have been weakened and a sharp increase in profits culminated since BTC reached $ 124,000, but a new summit of all time could arrive in two to three months.
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New and short -term holders accumulate, compensating for sales pressure.
Bitcoin (BTC) entered a “historically late phase” of its market cycle, with for-profit metrics and capital flows echoing the signs of the summits of the previous cycle, according to the Glassnode analysis platform.
The data indicated that the current Bitcoin cycle shared similarities with the 2015-2018 and 2018-2022 races, where summits of all time (ATHS) have been reached about two to three months after the current relative phase.
The company noted that the offer in Bitcoin circulation spent 273 consecutive days above the standard of standard deviations +1, just after the 335-day sequence observed during the 2015-2018 cycle. Meanwhile, long -term holders (LTH) have already made more benefits than in all cycles except one, indicating that the pressure of the sale is mounted.
“These signals reinforce the idea that the current cycle is firmly in its historically late phase,” said Glassnode mentioned In its weekly report, while stressing that in past cycles, such conditions have often preceded new peaks of all time in a few months.
Bitcoin has slipped almost 9% since it reached $ 124,000, with lower capital entries accompanying the decline. BTC has achieved that CAP growth has only culminated at only 6% per month in recent weeks, against 13% during $ 100,000 escape from 2024.
Lucrative volumes have also softened. Glassnode has observed that the most recent athian atmosphere has seen profits down well below the peaks observed at $ 70,000, $ 100,000 and $ 122,000. Despite this, the losses made remain moderate at $ 112 million per day, well in historical standards for local corrections.
Related: Bitcoin is struggling at $ 113,000 while Fed Bowman indicates to faster rate reductions
Bitcoin demand is obvious, but the new summits are elusive
Despite for -profit pressures, cryptocurrency data suggest renewed request. The youngest cohort of Bitcoin holders (portfolios of less than a month) overturned the positive net, the supply of this group increasing by 73,702 BTC in September.
Short -term holders (STHS) also add aggressively, accumulating 159,098 BTC. This new capital was absorbing parts distributed by long -term holders (LTH), a dynamic often observed in the markets of supported bulls.
However, the ideas of Onchain of Santiment warned Against the expectation of an immediate rebound. The eagerness of retail merchants to “buy the dive” has historically preceded more, while short positions remain insufficient to supply significant short pressure.
The feeling of the market has become more negative because bitcoin fell below $ 114,000, but analysts note that levels of fear have not yet reached capitulation.
At the same time, whales continue to accumulate, with wallets with 10 to 10,000 BTC, adding more than 56,000 pieces since the end of August. The exchange sales also dropped by more than 31,000 BTC in the last month, reducing short -term sales pressure.
Related: Buy the dip? These measures say that the price of bitcoin of $ 112,000 was local bottom
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
