Bitcoin’s current market conditions suggest that a significant price increase is imminent, with analysts expecting the price to rise between $130,000 and $160,000.
Despite the short-term declines, strong bullish signals from indicators like NUPL suggest that the long-term outlook remains optimistic, supported by Cryptoquant analysts who suggest that past price patterns confirm expectations for a future price rally.
Looking at the latest Bitcoin analysis, market indicators and expert opinions point to the potential for a significant price increase in the range of $130,000 - $160,000.
Bitcoin’s NUPL (Net Unrealized Profit/Loss) metric is approaching the final stages of the cryptocurrency’s current bull cycle, potentially targeting the $130,000 to $160,000 range, according to Cryptoquant’s latest analysis. Despite the price dropping to around $92,118, Cryptoquant’s senior analyst Baro Virtual emphasized that the overall market sentiment remains positive.
This bullish outlook stems from NUPL forming a cup and handle pattern that traditionally indicates a consolidation phase before price increases. Analysts predict that if Bitcoin breaks through current resistance levels, a major rally could be triggered. It is also noted that NUPL’s rise above its 365-day moving average supports the price increase.
Although Bitcoin has lost its upward momentum recently, both the MVRV ratio and SOPR indicators are giving signals consistent with long-term bullish psychology. Currently, Bitcoin’s MVRV ratio is at 2.42, which is in the historically bullish range of 2 to 3, indicating a healthy market for buyers without entering overbought conditions. This suggests that the market is preparing for a potential recovery.
Additionally, Bitcoin’s SOPR ratio has recently stabilized around 1.01, indicating that the market is in a neutral mood and strategic buyers are taking advantage of the current market conditions. Opportunities created by weak hands exiting their positions could also create potential gains for investors.
Bitcoin’s NVT Golden Intercept has reached 0.98, indicating increasing trading volumes and rising trust within the network. Traditionally, such situations can lead to price increases.
Despite the recent volatility, several key indicators suggest that the market is correcting and a recovery is on the way. This recovery could see Bitcoin reclaim its previous resistance at $99,790, while a drop to $95,600 is possible if bear pressure persists.