Bitcoin has yet to reach the extreme price level that signals the end of the bull cycle, despite surpassing $99,000 last week. According to data from CryptoQuant, BTC could rise to between $100,000 and $146,000, based on realized price valuations. The index has indicated peaks in previous cycles, including the April-May 2021 rally.

- Bitcoin valuation metrics suggest the market is still in a bull phase.

- CryptoQuant’s Profit and Loss Index is above its 365-day average.

- The Bullish-Bearish Market Cycle Index remains in bullish territory and has been rising since early November.

- Retail activity on the Bitcoin network remains low, while large investors have increased their holdings to 130,000 BTC.