Will BTC hit $100,000 again? CryptoQuant analysis: There is still a lot of room for further growth.

Crypto asset analyst CryptoQuant said that after reaching a new high, BTC fell from the $100,000 level, but this is just a 'temporary setback', and it will continue to surpass this important milestone, even challenging higher prices.

Multiple on-chain indicators indicate that BTC still has a lot of room for growth, and the Bull Market is still far from its peak. CryptoQuant's proprietary P&L Index shows that BTC is currently firmly in the Bull Market, but it has not reached the overvaluation levels set in 2021, 2017, and 2017 market peaks. This index combines several on-chain valuation indicators to assess whether BTC price is "overvalued" or "undervalued".

The company's Bull Bear Market Cycle Indicator slightly entered the Bear Market territory earlier this year before starting to rise, when BTC fell from a record high of $73,000 in March to $50,000. The indicator is still far below the overheated levels seen in March.

Meanwhile, the participation of retail investors remains lackluster, which is in contrast to the typical 'buying frenzy' phenomenon observed at previous cycle tops. According to CryptoQuant data, retail investors have sold 41,000 BTC since October, possibly reducing their holdings to take profits. However, at the same time, institutional investors have increased their holdings by 130,000 BTC.

New investors are not in a hurry to enter the market. The BTC value held by these new investors (or Addresses that have only held BTC for less than six months) accounts for only 50% of the total value invested in BTC (realized upper limit), which is far lower than the levels of 80% to 90% reached in 2017 and 2021. Analysts say:

When the price peaks, new investors typically buy in at extremely high prices, leading to a significant portion of their investment being in BTC. Previous bull market cycles ended when retail investors bought in heavily, but the situation is different now.

Despite Trump's election as the US president pushing BTC to nearly $100,000, it has since dropped 9% from its latest record high and is currently trading at around $96,631. BitCoin

Despite the BTC price pullback, CryptoQuant analysts believe that breaking the $100,000 mark is only a matter of time.

The previous Bull Market of BTC has always peaked near the upper limit of the "realized price index", which is also four times the average price of the last transfer of BTC in circulation. Data shows that the current realized profit of BTC is between $36,000 and $37,000, and it has quickly risen, indicating that the current upper limit range is $147,000.

According to CryptoQuant, if historical patterns repeat, BTC could reach at least $147,000 before reaching the upper limit of this market cycle.

CryptoQuant is not the only company bullish on BTC's rise. Recently, Galaxy Research stated that the BTC price is expected to reach $100,000 in the short term and may go higher, due to increasing institutional adoption and the possibility of establishing BTC as a national reserve.

Will BTC hit 100,000 USD again? CryptoQuant analysis: there is still plenty of room for growth. This article was first published on Blockcast.