Analysts at CryptoQuant note that Bitcoin is currently in a phase of ‘quiet consolidation’, despite a recent price drop to $98,000 and concerns about the formation of a ‘double top’ pattern. Experts emphasize that long-term holders of the cryptocurrency continue to hold their assets, not rushing to take profits even amid market volatility.
This is reported by Business • Media
Activity of Long-Term Holders and On-Chain Indicators
After a brief dip in price, Bitcoin has already recovered above the $100,000 mark. According to analysts, on-chain metrics do not indicate signs of market overheating or the end of the current bullish cycle. A key indicator is the 30-day moving average of the binary CDD, which shows the activity of long-term investors. Currently, this indicator stands at 0.6, below the critical value of 0.8, which typically signals the risk of a deep correction.
“This time, the indicator peaked around 0.6 and began to decline, indicating a lack of overheating. Long-term investors are not rushing to take profits,” CryptoQuant stated.
Market Expectations and Growth Prospects
Experts emphasize that the current situation is not a signal for the end of the bull market. Historically, strong breakouts for Bitcoin often occur during periods of declining overall optimism and interest in the market. This may indicate that a new growth impulse is currently forming. According to CryptoQuant, before the next wave of growth begins, Bitcoin may continue to consolidate either in price or in time.
“We are likely witnessing another stage of stair-step movement, where a new jump follows a period of calm,” CryptoQuant concluded.
Previously, analysts from this platform noted an increase in buying activity among investors from the U.S., which is characteristic of bull markets. At the same time, interest in altcoins remains critically low, as confirmed by relevant metrics.