Despite the bearish pressure in the crypto sector, key on-chain metrics suggest that the current Bitcoin bull market is likely to continue. The price of Bitcoin has fallen sharply, hovering near the $104,000 level, but fear not, my fellow crypto enthusiasts! Alphractal, an advanced on-chain data analytics platform, has shared some promising research.
Bullish Outlook For Bitcoin Endures
Bitcoin’s strong upward move has stalled after hitting a new all-time high, but don’t let that fool you. The pullback does not mean the ongoing bull market has ended. In fact, on-chain signals point to sustained strength.
According to Alphractal, the Bitcoin On-Chain CapFlow Sentiment Index is a trustworthy indicator of market maturity. This index has shown promise in pinpointing areas where the momentum of coin flow on the network begins to lose strength, indicating distribution by smart hands. The same is true during periods of accumulation, which frequently align with local bottoms.
Presently, the sentiment index is hinting at a new distribution phase as it continues to grow. When this stage is achieved, the current bull cycle is expected to come to an end, and Bitcoin will be at its most extreme level. Alphractal claims that this approach is still relevant until the analysis offers a different perspective.
A Major Surge To Unprecedented Levels
While on-chain data signals the continuation of the bull market, crypto analysts like Trader Tardigrade have predicted a massive surge to unprecedented levels. Trader Tardigrade’s forecast is based on a crucial price trend known as the Power of 3.
After examining the 1-week chart, the seasoned expert revealed that BTC has entered a distribution phase that would trigger a notable upswing. If the ongoing distribution phase has a 5-wave structure, wave 1 and wave may be completed. According to the expert, the most aggressive wave is coming, and BTC may run to the top in wave 5, which is positioned at the $200,000 mark.
So, my fellow Bitcoin enthusiasts, hold on tight! The bull market is still strong, and a new rally could still happen. And who knows, maybe we’ll see Bitcoin hit the $200,000 mark sooner than we think. 🚀💸
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2025-06-20 20:13