Can Bitcoin hit $100K? Key on-chain trends reveal insights
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CryptoQuant’s P&L and Bull-Bear Market Indicator show BTC is still below overvalued territory; hence, the cryptocurrency has more room for growth.
Bitcoin (BTC) is still far from the overvalued levels that indicate the end of a bull cycle despite having rallied above $99,000 last week.
According to on-chain data analyzed by CryptoQuant, the cryptocurrency can still surge past $100,000 to $146,000, the top target from a realized price valuation perspective. This perspective indicated the top price for BTC in previous cycles, including the rally witnessed in April-May 2021.
No Signs of a Bitcoin Market Top Yet
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