Recent data from CryptoQuant's Bitcoin indicators point to the continuation of the current bull cycle in cryptocurrency markets.
IBCI Indicators and the Bull Market
The Index Bitcoin Cycle Indicators (IBCI) show that the Bitcoin bull market is still in progress. Recent data emphasize that the IBCI remains at a level not typically associated with bull market peaks.
Bitcoin Price and Investor Behavior
Amid recent price rises of Bitcoin to new all-time highs, investor behavior has become noticeably calmer. This allows for the assumption that the market is in a transitional phase rather than exhaustion. According to CryptoQuant analyst Gaah, the current levels indicate that 'IBCI has stabilized in the 50% range', signaling a neutral phase in the market cycle.
Unusual Puell Multiple Behavior
Analysis of the Puell Multiple highlights an unusual low activity during Bitcoin's historical highs. The data suggests that 'When Puell Multiple is below 1.0, it is associated with accumulation periods,' raising questions about Bitcoin's long-term growth potential.
Thus, the current state of both IBCI and Puell Multiple indicators confirms expectations for the continuation of the Bitcoin bull market, sparking interest in future price developments.
