Bitcoin Bull Run Might End Soon, Analyst Says

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A CryptoQuant analyst has observed signs that the ongoing Bitcoin bull run may be reaching its final stages, based on market indicators.

The current impressive surge in BTC, which began in January 2023, is showing signs of approaching the end according to Crypto Dan, a Korea Community Manager and analyst at CryptoQuant.

Crypto Dan highlights indicators from Bitcoin’s realized market cap UTXO Age Bands that suggest the market has now entered the last phase of its current cycle.

In his analysis, Crypto Dan emphasizes that the trends in Bitcoin’s price are consistent with the historical pattern of alternating cycles of bull and bear. This current bull run, characterized by rising prices and increased investments, reflects a cycle that is nearing its maturity.

According to data, 36% of Bitcoin’s market cap is made up of coins traded in the past month. While this percentage is lower than during previous cycle peaks, it still indicates that the market is close to reaching its peak.