Bitcoin seems to be ready for a significant ascending movement after a strong start by 2025. However, questions about the general health of the market are left and if the current uphill can be maintained in the coming weeks and months. Here, we will have an impartial look and based on data on the underlying numbers that support our current trend.
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Miners recovery
PUELL MultipleA measure that compared USD’s daily income of the miners with its annual average, suggests that Bitcoin’s fundamental network is still solid. Historically, after an event in half, the mining income experiences a significant drop due to the reduction of the 50%block reward. However, the Puell multiple recently rose above the key value of 1, indicating a potentially bullish recovery and phase.
The previous cycles show that crossing and re -testing the value of 1 often precedes large prices manifestations. This pattern is repeated, pointing out a strong support to the market of mining activity.
Substantial rise potential
The MVRV Z-SCoreA metric that analyzes the Bitcoin market value in relation to its value, or the average accumulation price for all BTC, suggests that current values remain well below the maximum historical regions, describing a considerable space for growth .
TO Two -year rolling version of the MVRV Z scorewhich adjusts for evolving market dynamics, it also shows optimistic potential. Even according to this adjusted measure, Bitcoin is far from the previous levels of the cycle cycle, leaving the door open for greater price appreciation.
Related: We are repeating the Bitcoin Bull 2017 cycle
Sustainable feeling
He Bitcoin Fear and Greed Index It is currently in a healthy and sustainable amount of greedy feeling, which indicates a greedy but sustainable feeling. The historical data of the 2020-2021 bull cycle show that the levels of greed around 80-90 can persist for months, which supports the prolonged bullish impulse. Only when the values approach the extreme levels (95+), the market generally faces significant corrections.
Network activity
He Active address feeling indicator It reveals a slight drop in network activity, suggesting that retail investors have not yet entered the market. However, this could be a positive signal, which indicates a retail retail demand that could feed the next stage of the manifestation.
Risk appetite changes
The traditional market feeling shows improved signals. High performance credit The appetite is increasing as the macroeconomic environment changes to a more risk perspective. Looking at the corporate bonds that offer higher interest rates due to their lowest credit ratings compared to investment grade bonds. Historically, there has been a strong correlation between Bitcoin’s performance and the periods of greatest global risk appetite, which have often aligned with the bullish phases in the price of Bitcoin.
Related: what predicts Bitcoin’s price history for February 2025
Conclusion
The metrics, the feeling of the market and the macro perspective of Bitcoin point to a continuation of the current upward market. Although short -term volatility is always possible, the convergence of these indicators suggests that Bitcoin is well positioned to achieve and potentially overcome our current maximum of all time in the near future.
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Discharge of responsibility: This article is only for informative purposes and financial advice should not be considered. Always do your own research before making investment decisions.