The Bitcoin (BTC) bull market will most likely come to a conclusion sooner rather than later, according to an analysis published by CryptoQuant.
In a new report, pseudonymous CryptoQuant executive Crypto Dan examines UTXO age bands, which look at specific groups of coins that have been received but not spent, and broken up into age groups.
The analyst says that with the “substantial influx” of new investments that have recently come into the market, it’s now reasonable to believe the BTC bull market is in its final chapters.
According to Crypto Dan, the Bitcoin bull market will most likely top out within the first quarter of this year.
“Notably, the percentage of Bitcoin traded for less than a month (based on realized market cap – UTXO) has reached 36%. Although this is considerably lower than the peaks of past cycles, the long-term trend remains downward, which suggests that the market is likely to reach its cycle peak by Q1 2025, or at the latest by Q2 2025.
However, rather than a single spike, this ratio is likely to rise sharply 2 to 4 times, typically leading to significant overheating followed by a bear cycle. Therefore, expectations for substantial gains in both Bitcoin and altcoins should still be kept open.
Nevertheless, from a conservative standpoint and with risk management in mind, caution is advised. For this reason, I am planning to gradually sell my holdings.”
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