- CryptoQuant signals indicate Bitcoin’s bullish momentum is intact.
- Short-term BTC traders could want to lock in profits around the $130,000 range.
- Bitcoin may be slow, but the bullish trend continues.
Data analysis provider CryptoQuant said Bitcoin’s bull market remains intact despite slower price action in recent weeks. In its latest signals shared on X, analysts pointed to metrics showing Bitcoin in equilibrium but with growth potential toward $130,000.
At the time of writing, Bitcoin traded around $118,815, up nearly 10% from last weekend’s dip near $108,652, according to TradingView.
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Short-Term Holders Define Profit Zone
CryptoQuant analyst Axel Adler highlighted that Bitcoin’s current dynamics sit inside the STH-MVRV corridor, a valuation band that measures the profitability of recent buyers. Adler said the corridor suggests the upper boundary sits near $130,000, where short-term holders could look to take profits.
He noted that Bitcoin remains in equilibrium inside a volatility corridor but emphasized how quickly investors continue to buy short-term dips. That behavior, he argued, reinforces a healthy market structure and sets the stage for another leg higher if current dynamics hold.
Slow Progress Fits Bitcoin’s Cycle Behavior
A second CryptoQuant analyst, identified as Crypto Dan, aligns with Adler’s bullish perspective of a sustained bullish momentum for Bitcoin. However, Dan noted that the slow progress currently being experienced in the Bitcoin price trajectory is typical of the cryptocurrency’s behavior before a strong upward move.
Dan compared the current trend with past Bitcoin cycles, during which the latter stages of a bull market coincided with a sharp decline in the share of long-term held BTC. According to the analyst, the situation occurred because users were selling BTC that they had held for a long time, allowing the influx of new capital and injection of liquidity into the market.
Related: Bitcoin (BTC) Price Prediction: Will Bitcoin Break $118K?
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