$BTC ‌

$100K Breakdown ✅ — Why Bitcoin’s Bull Cycle Might Still Be Alive
Over time, many indicators have identified the Bitcoin price peak for each bull cycle. Their success rates have made these popular. Coinglass uses all of these to create a progress chart that may indicate when Bitcoin prices are peaking. This progress chart is just halfway done, yet Bitcoin is crashing. Why?
Peak bull market indicators remain untriggered
The Coinglass website tracks 30 Bitcoin bull market top indications, but none have triggered. This implies none of these 30 indications indicate a Bitcoin price high. This means that the digital asset has further runway before hitting the cycle high and entering the bear market, keeping the tracker in “Hold” area.
For instance, the Bitcoin Dominance indicator is 92.76%, almost triggered, but stays undisturbed. This comes as Bitcoin dominates the altcoin market over 60%, but below the 65% threshold needed to activate the indication.
Bitcoin long-term holder supply, which records long-term holders' BTC dumps, is another important indication. This indication usually activates when long-term holder supply falls below 13.5 million BTC, however it is currently over 15 million BTC.
While Bitcoin's peak signs remain untriggered and suggest a hold, enormous sell-offs have continued. Early Bitcoin whales have dumped billions of dollars of BTC in recent weeks.
Bitcoinist stated that two early Bitcoin whales sold almost $1.7 billion in BTC in weeks between October and November. These sell-offs exacerbated the negative pressure that sent Bitcoin below $100,000. Another OG whale spilled 10,000 BTC worth over $1 billion this week.
#BTC #CryptoMarket4T #CPIWatch