Bitcoin's Rally Far From Over: CryptoQuant Analysts Project 25% Further Upside
.
Table of contents
Key Indicator Points to Sustained Gains
A crucial metric underpinning this optimistic outlook is the Short-Term Holder Market Value to Realized Value (STH MVRV) ratio. This indicator, which measures the unrealized profits of Bitcoin held by short-term investors, currently stands at approximately 1.15. This figure implies that short-term holders are, on average, sitting on about 15% in gains.
Historically, major selling events and subsequent short-term corrections have typically occurred when the STH MVRV ratio reaches around 1.35, signifying average unrealized profits of 35%. The current lower ratio suggests that the market is not yet overextended by short-term speculative gains, leaving room for further price appreciation before a significant wave of profit-taking is likely to begin.
Eyeing the $147,000 Mark
With Bitcoin currently trading around the $118,000 mark, a 25% increase from this level would propel its price to approximately $147,500. This projection reinforces the analysts' view that the current bull run is far from exhausted. The sustained momentum, coupled with the STH MVRV ratio indicating ample room for growth before hitting historical profit-taking thresholds, paints a bullish picture for Bitcoin in the near term. Investors and market watchers will be closely monitoring this key indicator for signs of a potential top, but for now, the outlook suggests more upward movement for BTC.