{"id":19011,"date":"2024-11-28T16:15:31","date_gmt":"2024-11-28T14:15:31","guid":{"rendered":"https:\/\/forklog.com\/en\/cryptoquant-sets-bitcoin-target-for-current-cycle\/"},"modified":"2024-11-28T16:15:31","modified_gmt":"2024-11-28T14:15:31","slug":"cryptoquant-sets-bitcoin-target-for-current-cycle","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/cryptoquant-sets-bitcoin-target-for-current-cycle\/","title":{"rendered":"CryptoQuant Sets Bitcoin Target for Current Cycle"},"content":{"rendered":"<p>Following a price correction, certain metrics of digital gold suggest the continuation of a bull market phase with a target of $146,000, according to CryptoQuant.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Is it too late to buy in?<\/p>\n<p>Bitcoin has surged 34% in November &#8217;24, with the bull run in full swing.<\/p>\n<p>The CryptoQuant Cycle Indicator shows that Cycle Peak hasn&#8217;t reached the Extreme Bull phase yet, indicating there&#8217;s still potential for growth.<\/p>\n<p>How can you enter? A thread ? <a href=\"https:\/\/t.co\/DCIovZzuTI\">pic.twitter.com\/DCIovZzuTI<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/1861873739639791786?ref_src=twsrc%5Etfw\">November 27, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts noted that currently, the share of coins held by &#8220;new investors&#8221; is slightly over 50% of the total supply. During previous rally peaks in 2017 and 2021, the indicator was over 90% and 80% respectively.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1329.webp\" alt=\"1-1329\" class=\"wp-image-246300\"\/><figcaption class=\"wp-element-caption\">Data: CryptoQuant.<\/figcaption><\/figure>\n<p>The current values are explained by moderate activity from retail investors. Often, the opposite situation is a &#8220;typical condition of market cycle extremes,&#8221; specialists indicated.<\/p>\n<p>Since October, retail investors have reduced their holdings by 41,000 BTC, while whales have increased theirs by 130,000 BTC.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><cite><em>&#8220;Previous bull runs ended when the first category bought aggressively, and today this is not happening,&#8221;<\/em> explained CryptoQuant.<\/cite><\/p><\/blockquote>\n<p>The shift suggests a possible change in the nature of the accumulation phase, where institutional and large players have taken the lead. From November 18 to 22, inflows into spot BTC-ETFs reached a record $3.1 billion, coinciding with Bitcoin approaching $100,000.<\/p>\n<p>The CryptoQuant market cycle indicator has been in the bullish zone since early November and has continued to rise. The indicator has not entered the &#8220;overheating area,&#8221; unlike in March 2024, when Bitcoin reached <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> approaching $74,000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-958.webp\" alt=\"2-958\" class=\"wp-image-246301\"\/><figcaption class=\"wp-element-caption\">Data: CryptoQuant.<\/figcaption><\/figure>\n<p>In terms of realized price, the upper benchmark for the first cryptocurrency&#8217;s rate is the $146,000 mark.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><cite><em>&#8220;This range served as a peak for quotes in previous bull markets. The P&#038;L index in this bull run has not yet reached overbought levels. This indicates potential for continued growth,&#8221;<\/em> concluded the experts.<\/cite><\/p><\/blockquote>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/3-535.webp\" alt=\"3-535\" class=\"wp-image-246302\"\/><figcaption class=\"wp-element-caption\">Data: CryptoQuant.<\/figcaption><\/figure>\n<p>Previously, experts described the current Bitcoin pullback as a pause before rising to $100,000.<\/p>\n<p>Earlier, Pantera Capital predicted the price of the first cryptocurrency could rise to $740,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following a price correction, certain metrics of digital gold suggest the continuation of a bull market phase with a target of $146,000, according to CryptoQuant. Is it too late to buy in? Bitcoin has surged 34% in November &#8217;24, with the bull run in full swing. The CryptoQuant Cycle Indicator shows that Cycle Peak hasn&#8217;t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1146,1205,1268],"class_list":["post-19011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-market-forecasts","tag-cryptoquant","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=19011"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/19011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/19010"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=19011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=19011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=19011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}