BlockBeats news reports that Bitcoin’s valuation indicators suggest the bull market is far from over, with potential for further gains. No signs of overvaluation indicate the current potential target for this cycle to be $146,000. CryptoQuant’s report shows new Bitcoin holders’ holdings lagging behind previous cycle levels, with new investors holding slightly more than 50% of positions.
This may be due to a slowdown in retail Bitcoin buying activity. Analysis suggests increased retail activity is typically seen at the market cycle’s peak. Since October, retail investors have reduced holdings of 41,000 BTC, while large investors have increased holdings of 130,000 BTC. Previous bull cycles ended with active retail buying, but this isn’t happening now, indicating a potential shift in market dynamics with institutions driving the accumulation phase.
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<p>The post Bitcoin Bull Market Not Over: $146K Target, Institutional Accumulation first appeared on CoinBuzzFeed.</p>
