The head of blockchain analytics platform CryptoQuant thinks Bitcoin (BTC<\/a>) is only halfway through its current bull cycle.<\/p>\n Ki Young Ju tells<\/a> his 346,000 followers on the social media platform X that BTC\u2019s market cap is growing faster than its realized cap, a trend he says tends to last around two years.<\/p>\n The realized cap metric records the price of each Bitcoin when it last moved and aims to gauge how many holders are in profit or at a loss.<\/p>\n Explains Young Ju,<\/p>\n \u201cIf this pattern continues, the bull cycle might end by April 2025.\u201d<\/em><\/p>\n BTC is trading at $67,014 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours and more than 10% in the past seven days.<\/p>\n Young Ju\u2019s firm, CryptoQuant, notes<\/a> that short-term holders are selling Bitcoin at low or negative profits. The firm says traders have exhausted their unrealized profits, which has decreased selling pressure in the BTC market.<\/p>\n CryptoQuant also notes that Bitcoin balances at over-the-counter (OTC) trading desks have stabilized, which means less supply is entering the market.<\/p>\n The analytics firm does caution<\/a> that BTC demand from permanent holders and large investors \u201cneeds to accelerate to sustain the price rally.\u201d<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/span><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The head of blockchain analytics platform CryptoQuant thinks Bitcoin (BTC) is only halfway through its current bull cycle. Ki Young Ju tells his 346,000 followers on the social media platform X that BTC\u2019s market cap is growing faster than its realized cap, a trend he says tends to last around two years. The realized cap […]<\/p>\n","protected":false},"author":2,"featured_media":304948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-304938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=304938"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304938\/revisions"}],"predecessor-version":[{"id":304954,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/304938\/revisions\/304954"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/304948"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=304938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=304938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=304938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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