According to Cointelegraph, Bitcoin’s valuation indicators show that the bull run is far from over, with analysts currently targeting a price of $146,000.
CryptoQuant's report noted that the value of Bitcoin held by new investors is still lower than in previous cycles, currently accounting for just over 50% of total investment, compared with more than 90% and 80% at market peaks in 2017 and 2021, respectively.
Bitcoin buying activity from retail investors has been slow in recent weeks, decreasing by 41,000 BTC since October, while large investors have added 130,000 BTC.
ETF investors led Bitcoin buying in November, with record weekly inflows of $3.1 billion.
Bitcoin price fell to around $91,000 on November 26, failing to break the $100,000 resistance level. Analysts believe a 30% correction is possible.
CryptoQuant’s Bull-Bear Market Cycle Indicator has been in bullish territory since early November, but has yet to reach the overheated stage.
