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When Will Bitcoin’s Price Reach its Top This Cycle? Analysts Give Key Insights
Bitcoin currently needs to rally to $140,000 for LTH profits to match previous peaks. Despite trading slightly over 4% from its all-time highs, long-term holders are witnessing their unrealized profits decline as BTC remains under pressure.
The average unrealized profit for long-term holders, based on the MVRV ratio, has plummeted to around 220%. This figure is notable but lower than the 300% and 350% levels seen during the March and December 2024 market peaks. LTH Profits Slide
It’s essential to note that the realized price for long-term holders now stands at $39,000, which means significant gains are still present despite the decline in unrealized profits. Moreover, the current profit levels resemble those last seen during the October 2024 correction, further indicating that while BTC remains strong, the market has yet to reach peak profit extremes.
To match previous cycle tops, Bitcoin would require a substantial climb towards $140,000, a level many anticipate. As it currently trades near $107,000, market participants are preparing for a period that historically brings slower activity and new narratives.
Source: cryptopotato.com
