The article investigates Bitcoin's recent price movements, particularly a 10% retracement, and assesses whether this indicates a market peak. It highlights that Bitcoin usually experiences pullbacks of 20% to 40% in a bull cycle before reaching its ultimate peak. Key on-chain metrics, including the MVRV Z-score, SOPR, and VDD, suggest substantial upside potential and declining sell pressure among long-term holders, hinting at market stability. Institutional investor confidence further reinforces the analysis that Bitcoin may not yet have reached its peak in this cycle.
Bitcoin's recent 10% drop raises questions about the bull market peaking, but historical patterns suggest that such pullbacks are typical before reaching final peaks.
Current metrics like the MVRV Z-score and SOPR indicate there is still potential upside for Bitcoin, contrasting with fears of market saturation.
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