Bitcoin Has Not Entered an Overly Bullish Period Yet: CryptoQuant Explains with Data - Coin Bulletin

Bitcoin entered a bull market with an impressive 34% rise in November 2024. However, the fundamental question for many investors is: Is it too late to buy Bitcoin now?

CryptoQuant's Cycle Indicator shows that Bitcoin has not yet reached the Extreme Bull stage. This indicates that there is still potential for growth. However, price pullbacks are always possible, as in uptrends.

Past Bull Markets

Rises in Bitcoin price usually come with corrections. Historical data shows that previous bull markets experienced the following pullbacks:

• 2017 Bull Market: 22%
• 2021 Bull Market: 10% and 30%
• 2024 Bull Market: 15 percent and 20 percent

This situation shows that price pullbacks can provide new entry opportunities for investors in current market conditions.

The average cost of short-term investors

According to CryptoQuant, the Short-Term Holder Realized Price shows the levels at which the price finds support in bull markets and can be bought from the bottom. Investors usually prefer to balance their costs by buying at these levels.

Clearing open positions

Rising prices often bring speculative positions with expectations of further price increases. However, these positions are often cleared and this can create a good buying opportunity for patient investors.

Net Taker Volume (24HMA), an important indicator showing the difference between buyers and sellers. CryptoQuant indicates that this indicator has reached -30 million dollars and that selling pressure is approaching its peak. This situation may create room for a potential increase in Bitcoin price.