The analytics firm Alphractal, in its new report, has identified a local Bitcoin price peak. Experts at the company highlight several key indicators pointing to a possible upcoming price decline.
Alphractal Report: Factors Indicating a Local Peak
Alphractal released a report titled '4 Metrics That Indicate Bitcoin's Local Top.' According to this document, December 16, 2024, might be a pivotal moment for the cryptocurrency, as metrics showed signs of weakness.
Key Metrics Signaling a Decline
The Alphractal report highlights four key metrics: 2Y SMA Multiplier, MVRV Z-Score, Reserve Risk indicators, and On-Chain CapFlow Sentiment Index. These metrics provide insight into the current market state, indicating potential Bitcoin price reduction.
Prospects for the Future
Despite bearish signals, Alphractal analysts suggest that Bitcoin might recover within the next three months. Currently, the market faces a decisive phase with high volatility ahead.
Alphractal analysts warned of potential changes in the Bitcoin market, considering observed indicators. It is advised to monitor developments closely for accurate assessment.
