Bitcoin Metrics Mirror 2017 and 2020 Patterns, Next Stop: New All-Time Highs?

After a week of volatility, Bitcoin briefly recovered to over $112,000 on Monday before a modest decline below that ￰0￱ liquidation jitters still linger among market participants, and the turbulence shook short-term ￰1￱ this, experts say that the bull market appears ￰2￱ fact, CryptoQuant revealed that several on-chain signals are pointing to further upside potential. Mid-Cycle Reset An important metric in this regard, the MVRV ratio – which measures the relationship between Bitcoin’s market value and the average cost basis of its holders- has cooled back toward the 2.0 ￰3￱ instances have shown that this range has been a mid-cycle reset zone rather than a danger ￰4￱ remain comfortably in profit, but without the kind of overheated conditions that often precede sharp ￰5￱ past cycles, CryptoQuant found that similar consolidations in the MVRV ratio represented the beginning of renewed, stronger ￰6￱ behavior of long-term holders further validated this outlook.

On-chain data shows that profit-taking among these investors has diminished considerably, and those who have held coins for months or years are largely choosing to sit ￰7￱ conviction not only demonstrates confidence in Bitcoin’s longer-term trajectory but also effectively tightens supply in the ￰8￱ a reduction in selling pressure creates a supportive backdrop for future price increases, particularly if new demand ￰9￱ factors collectively mirror crucial “mid-cycle” phases seen in both 2017 and 2020, when Bitcoin slowed before breaking into more powerful ￰10￱ volatility, then, looks less like the exhaustion of the bitcoin bull market and more like a healthy pause, which the analytic platform described as a “digestion” phase where excesses are cleared before momentum resumes.

“If history rhymes, today’s consolidation could mark the groundwork for the next major leg upward – suggesting the bull market is alive and well.” $140K to $170K BTC Is Next Prominent market commentator ￰11￱ Street also observed that Bitcoin remains firmly above support levels despite recent turbulence in his detailed technical and macro ￰12￱ noted that BTC is currently hovering just above the same support zone where he opened long positions near $107,500, only 12% below its all-time high of $125,000. Dismissing the calls for a cycle top and an impending bear market, the analyst argued that “none of the major macro indicators have flashed,” and that market structure remains ￰13￱ even went on to emphasize that current weakness stems from temporary macro uncertainty rather than structural distribution, and added that “there’s no imbalance nor geopolitical event that can trigger a down move from here.” Going forward, the analyst expects a highly bullish Q4 and predicts new highs in the $140,000-$170,000 range before the cycle peak is ￰14￱ also forecasts up to six Federal Reserve rate cuts within the next six ￰15￱ traders, he identified the 4-hour EMA200 as the next short-term target and explained that the current region offers an attractive entry for new ￰16￱ US economic releases, including job openings, ISM data, and unemployment figures, could spark short-term volatility, but he maintained that the broader bull trend remains unshaken.