BTC Likely To Have Reached Cycle Top, Warns Analysts

IconCryptoNewsTerminal Staff02 Jul, 2024

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BTC Likely To Have Reached Cycle Top, Warns Analysts

Cointelegraph reports that several analysts believe "BTC has likely already reached the cycle top." Charles Edwards, founder of Capriole Investments, a crypto hedge fund, points to the Bitcoin Long Term Holder (LTH) inflation rate, which has reached 1.9, a level typically seen late in the cycle. Additionally, the Bitcoin dormancy Z-score has also spiked, indicating overbought conditions and a potential transition to a bear market.