Bitcoins Rally May Not Be Over Yet, Cryptoquant Analysts See 25% More Upside

Bitcoin recently reached over $123,000 before falling back to below $118,000 due to profit-taking. However, analysts at Cryptoquant believe the rally may not be over, as a metric called the Short-Term Holder Market Value to Realized Value (STH MVRV) suggests short-term holders haven't reached profit levels that typically trigger significant selling. This indicator, which measures unrealized profits for short-term Bitcoin holders, is currently at 1.15, indicating a 15% gain, which is below the critical threshold of 1.35 where profit-taking usually occurs. Based on this, Bitcoin could potentially rise another 20% to 25% before hitting that threshold again. The realized price for short-term holders has also recently surpassed $102,000, further raising the bar for profit-taking. If Bitcoin rises 20% from its current price around $118,000, it could reach approximately $141,600, while a 25% increase could push it near $147,500.