Oh, the horror! Bitcoin (BTC) has shed 2.12% in the last seven days, with prices sagging below $110,000 and staying stuck like a stubborn marmalade on toast. This correction in the asset’s price has led some to speculate that the development indicates the coin has peaked and might not soar higher. 🚪📉
Bitcoin on-chain indicators signal market still bullish
However, CryptoQuant, ever the voice of reason, insists that the bulls are still in full swing. According to the analytics platform, several on-chain metrics suggest that the bull run still has room to continue, and the recent drop is as unremarkable as a teatime crumpet. 🐂📊
Notably, it pointed out that fewer Bitcoins are on exchanges, which suggests that investors are not looking to sell. Hence, there is no immediate selling pressure on the asset, which indicates that the market remains open to growth. Or, as I like to call it, “the financial equivalent of a well-stocked pantry.” 🧾
Meanwhile, long-term holders of the coin are still accumulating and are not willing to sell. Per technical indicators, Bitcoin’s Market Value to Realized Value (MVRV) is still less than 3.6. For the asset to hit peak market level, the MVRV has to hit 3.6. A task as daunting as climbing a mountain made of jelly. 🧱
Bitcoin Corrects, but Metrics Rule Out a Cycle Top
“Altogether, these metrics indicate that, although Bitcoin is undergoing a correction, there is still potential for growth if demand holds.” – By @oro_crypto
Read the complete analysis ⤵️
– CryptoQuant.com (@cryptoquant_com) September 1, 2025
Another indicator is miners’ action in the cryptocurrency market. Miners are hardly selling, which signals that these stakeholders are expecting higher prices ahead. A noble pursuit, akin to a fox anticipating a feast. ⚖️🦊
CryptoQuant insists that unless demand collapses, the asset shows potential for huge growth. If buyers stay in the game, the coin could rebound. A hope as fragile as a daisy in a hurricane. 🌸
Analysts see correction as healthy for market
As of this writing, the Bitcoin price was changing hands at $108,813.57, representing a 0.39% increase in the last 24 hours. The coin briefly hit a peak of $109,890.58, sparking hopes of a rebound before facing corrections again. A rollercoaster with no safety harness. 🎢
As highlighted by the on-chain analytics platform, trading volume is up by 36.7% to $60.4 billion. A number so large, it could fund a small country’s tea budget. 🇨🇳🍵
Interestingly, Michaël van de Poppe has predicted that this correction phase could see prices drop to $103,000 before a sustainable rebound. A forecast as reliable as a weatherman’s promise of sunshine. ☔
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2025-09-01 16:39