BTC Likely To Have Reached Cycle Top, Warns Analysts
CryptoNewsTerminal Staff02 Jul, 2024
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.