Crypto market analyst, Crypto Dan, suggests Bitcoin (BTC) is yet to reach its peak in the current bull market, based on the MVRV (Market Value to Realized Value) ratio. In previous bull markets, MVRV peaked at 4.83 and 3.97, while it currently stands at 2.78, indicating that Bitcoin is not yet overvalued and further price increases can be expected.

Crypto Dan also notes that Bitcoin has undergone a significant sideways adjustment for over two months since reaching the overheated section in March 2024. This suggests that a steady rise could occur as early as June. This analysis provides a positive outlook for Bitcoin's market trajectory, reinforcing the optimistic sentiment in the crypto market.