TL;DR
Recent research from CryptoQuant suggests Bitcoin’s bull cycle could reach a $146,000 price target, based on on-chain data and valuation metrics.
Key metrics like Bitcoin’s realized price valuation and investor behavior indicate the market is not yet overheated, leaving room for further growth.
Institutional accumulation and favorable macroeconomic trends support the bullish outlook, with analysts predicting Bitcoin could soon surpass $100,000.
Recent research from CryptoQuant indicates that Bitcoin‘s current bull cycle could see its price soar to an impressive $146,000. This projection is based on on-chain data and key valuation metrics that suggest the cryptocurrency market remains in a bullish phase.
Bitcoin’s Realized Price Valuation
One of the critical metrics supporting this optimistic outlook is Bitcoin’s realized price valuation. This metric calculates the average purchase price of all circulating Bitcoin, providing a potential price ceiling for the current market cycle. Historically, this price band has marked the peaks of previous bull markets, such as those seen in April-May 2021 and January 2021.
Investor Behavior
The distribution of Bitcoin holdings among investors also supports the bullish sentiment. Currently, new Bitcoin holders control just over 50% of the total invested value, which is significantly lower than the levels seen at previous market tops.
In 2017 and 2021, new investors accounted for over 90% and 80% of the total invested value, respectively. This lower percentage of new investors suggests that the market is not yet overheated, leaving room for further growth.
Institutional Accumulation
Large investors, often referred to as “whales,” have been accumulating Bitcoin, adding 130,000 BTC to their portfolios. This accumulation by institutional and long-term investors is typically a bullish signal, indicating strong confidence in Bitcoin’s future price potential.
The absence of frenzied retail activity, which often signals market tops, further supports the possibility that Bitcoin’s current rally has more room to grow.
Macro Trends
CryptoQuant analysts also point to macroeconomic trends that favor digital assets. Increasing institutional adoption, Bitcoin ETF inflows, and a supportive U.S. regulatory environment are creating favorable conditions for further price growth. These factors, combined with the on-chain data, suggest that Bitcoin’s bull market is far from over.
With Bitcoin holding steady in its bull cycle and its realized price valuation suggesting a potential target of $146,000, analysts believe the cryptocurrency could soon break through the $100,000 milestone.
The ongoing accumulation by large investors and favorable macroeconomic trends further bolster this optimistic outlook, indicating that Bitcoin’s rally is poised to continue.
