Bitcoin Bull Market Peak Indicators Says Hold Despite Crash Below $100,000, What’s Happening?

Over the years, a number of indicators have emerged that have helped to pinpoint the Bitcoin price top for each bull ￰0￱ have become quite popular due to their success rates during this ￰1￱ such, the Coinglass website collates all of these to form a progress chart that could tell when the Bitcoin price is nearing its ￰2￱ progress chart is barely halfway gone, but the Bitcoin price is seeing major crashes, so what’s going on? Bull Market Peak Indicators Remain Untriggered A total of 30 Bitcoin bull market peak indicators are being tracked on the Coinglass website, and so far, not a single one has been ￰3￱ means that none of these 30 indicators point to the Bitcoin price already reaching its ￰4￱ suggests that there is still more runway for the digital asset before it hits the cycle peak and begins the next decline into the bear market; thus, the tracker remains firmly in “Hold” ￰5￱ Reading: Analyst Predicts Bitcoin Price Crash To $87,000 If This Happens For example, the Bitcoin Dominance indicator is very high, sitting at 92.76%, very close to being triggered, but remains ￰6￱ comes while the Bitcoin dominance over the rest of the altcoin market remains high above 60%, but still below the 65% score required for the indicator to be triggered..

Another major indicator is the Bitcoin long-term holder supply, which tracks the rate at which long-term holders are dumping ￰7￱ indicator is often triggered when long-term holder supply falls below 13.5 million BTC, but at the time of this report, it is still sitting above 15 million BTC. Short-term holder supply is another indicator that also remains relatively low at this ￰8￱ this indicator to be triggered, the short-term holder supply needs to rise above 30% of the supply. However, it is sitting at less than 25%, suggesting that Bitcoin long-term holders are still dominating the market. Sell-Offs Are Dominating Bitcoin While the Bitcoin peak indicators remain untriggered and point toward a time to hold, it has not stopped the massive sell-offs that have been rocking the ￰9￱ the last few weeks, reports have emerged of early Bitcoin whales dumping billions of dollars of BTC on the ￰10￱ Reading: Here’s Why Dogecoin And Shiba Inu Prices Are Crashing, Is A Recovery Possible?

Bitcoinist reported that between October and November, two early Bitcoin whales had sold more than $1.7 billion worth of BTC in a matter of ￰11￱ sell-offs had added to the initial bearish pressure that pushed the Bitcoin price down toward $100,000. Then, earlier this week, reports emerged of another OG whale who dumped 10,000 BTC, worth over $1 billion on the ￰12￱ these, it seems that Bitcoin is not waiting for the cycle peak indicators to trigger before ￰13￱ whales are already pushing what looks to be a premature bear market with the massive ￰14￱ image from Dall. E, chart from ￰15￱