Was That the Top for Bitcoin? Top On-Chain Analysts Say No

Top on-chain analysts say that despite a pullback from $122k, the Bitcoin bull run has not yet peaked A key “Peak Signal” indicator from CryptoQuant that has called every major top since 2013 has not flashed Analysis from Swissblock shows the rally is only on day 12 of what is typically a 15-to-30-day expansion After a recent surge that saw Bitcoin push to a new all-time high above $122,000, the price has pulled back to around $118,848. But despite the cooldown, a consensus is forming among top on-chain analysts that the recent peak was likely not the final cycle top for Bitcoin. Key indicators that have accurately signaled major market tops in the past have not yet been triggered, according to new reports from analytics firms CryptoQuant, Swissblock, and Glassnode. Their data suggests that the broader bull market structure remains intact and the rally has more room to run. CryptoQuant: The “Peak Signal” Has Not Flashed Yet CryptoQuant contributor Axel Adler Jr. highlighted a critical chart showing the “Bitcoin Peak Signal,” a tool that has accurately called major cycle tops since 2013. The chart, which overlays Bitcoin’s price history with peak s… The post Was That the Top for Bitcoin? Top On-Chain Analysts Say No appeared first on Coin Edition .

Source: Coin Edition