In the cryptocurrency market, on-chain analysis data plays an important role for investors to better understand market conditions. This data provides promising signals about Bitcoin's future price movements. These metrics, which have been successful in predicting cycle peaks in the past, are being carefully examined by investors.
Considering the supply of Bitcoin, he predicts that prices could rise to $200,000 as the cycle progresses. In addition, the Puell Multiplier analyzes the movement of miner revenues, indicating that the final stages of the bull market are approaching. This metric indicates that miners’ earnings are increasing and that there is a generally positive trend in the market.
By comparing market value to realized value, it currently shows that there is still potential for growth in the Bitcoin market. Additionally, the Active Address Sentiment metric evaluates price movements with address changes in the network, suggesting that Bitcoin has seen a small pause following its recent rally.
The metric measures the amount of profit made from Bitcoin transactions. Recent data suggests that profit-taking is increasing and the cycle is reaching its maturity stage. However, the increasing popularity of Bitcoin ETFs and derivatives may cause SOPR values to shape differently than past trends.
The metric attempts to predict market trends by tracking the activity of long-term investors. While current levels suggest the market is slightly overheated, similar levels have been observed to persist for several months in previous cycles.
All these metrics show that Bitcoin’s bull market is nearing its peak but still has great potential for growth. In particular, the resistance levels between $150,000 and $200,000 could become important testing points in the future. Investors can develop more robust and informed strategies by using these analyses.