{"id":24939,"date":"2025-06-26T12:16:21","date_gmt":"2025-06-26T09:16:21","guid":{"rendered":"https:\/\/forklog.com\/en\/analyst-warns-bitcoins-bull-phase-may-soon-end\/"},"modified":"2025-06-26T12:16:21","modified_gmt":"2025-06-26T09:16:21","slug":"analyst-warns-bitcoins-bull-phase-may-soon-end","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/analyst-warns-bitcoins-bull-phase-may-soon-end\/","title":{"rendered":"Analyst warns bitcoin\u2019s bull phase may soon end"},"content":{"rendered":"

The MVRV indicator does not yet point to a reversal in bitcoin\u2019s price, but the current upswing is likely nearing its end, said<\/a> CryptoQuant analyst Yonsei_dent.<\/p>\n

<\/p>\n

\n\u201cDespite geopolitical risks, bitcoin recovered confidently and returned to levels above $106,000<\/a>. However, the momentum captured by the MVRV ratio has begun to weaken,\u201d the specialist noted.<\/cite><\/p><\/blockquote>\n

\"mvrv-11\"
Data: CryptoQuant.
<\/figcaption><\/figure>\n

The indicator reflects the ratio of bitcoin\u2019s market value to its realized capitalization<\/a>. In particular, it helps assess how far the asset may be overvalued.<\/p>\n

\n\u201cHistorically, the direction and reversals of the 365-day moving average of MVRV have coincided with market-cycle peaks. The slope is flattening now\u2014this may indicate weakening momentum,\u201d the expert explained.<\/cite><\/p><\/blockquote>\n

Yonsei_dent suggested this could be a sign the current phase of the cycle is ending. Investors, therefore, \u201cshould focus on risk management and capital reallocation.\u201d<\/p>\n

In the expert\u2019s view, bull markets have often ended with a sharp price spike\u2014a kind of \u201cfinal push\u201d before the peak.<\/p>\n

\n\u201cTactical opportunities may still exist, but on-chain metric signals should not be ignored over the long term,\u201d the specialist concluded.<\/cite><\/p><\/blockquote>\n

Notably, none of the indicators presented on CoinGlass<\/a> currently signals a cyclical top or the advisability of selling cryptoassets.<\/p>\n

\"bull-market-peak-signals\"
Data: CoinGlass.<\/figcaption><\/figure>\n

The Binance factor<\/h2>\n

Yonsei_dent\u2019s colleague Darkfost found<\/a> that monthly inflows of cryptocurrency to the largest exchange, Binance, have fallen to 5,700 BTC.<\/p>\n

\"binance_inflows\"
Data: CryptoQuant.<\/figcaption><\/figure>\n

\n\u201c[This is] a historically low level\u2014even below the last bear market. The metric is nearly three times lower than when the $100,000 mark was first reached,\u201d the expert noted.
<\/cite><\/p><\/blockquote>\n

Following the FTX collapse in late 2022, monthly inflows of digital gold to Binance reached 24,000 BTC\u2014\u201creflecting mass selling and panic.\u201d<\/p>\n

In current conditions, Darkfost interprets weaker inflows as rising interest in long-term storage of cryptoassets, which \u201cmay set the stage for a short-term rally.\u201d<\/p>\n

\n\u201cHowever, the situation remains unstable, and uncertainty is high,\u201d the expert stressed.<\/cite><\/p><\/blockquote>\n

According to CoinGecko, Binance remains the most liquid exchange \u201cat all levels of market depth\u201d.<\/p>\n

\n

1\/ Binance leads $BTC<\/a> liquidity across all depth levels ?<\/p>\n

\u2022 Median $BTC<\/a> orderbook depth across 8 CEXes: $20\u2013$25M per side.
\u2022 @binance<\/a> holds 32% (~$8M), ahead of @bitgetglobal<\/a> ($4.6M) & @okx<\/a> ($3.7M).
\u2022 Only Binance has >$1M per side while other CEXes trailing with <$500K. pic.twitter.com\/zRIBqnTVWw<\/a><\/p>\n

\u2014 CoinGecko (@coingecko) June 26, 2025<\/a><\/p><\/blockquote>\n