CryptoQuant adjusts its outlook: the early phase of a new bull market may be forming, but as long as BTC at $98.82K hasn’t been breached, all optimism is discounted.
On-chain institutions believe the key indicators have flipped after a 24% rebound in BTC, but $98.82K is the watershed level.
CryptoQuant’s latest report notes that after BTC rebounded 24% from its phase low, multiple core market metrics have turned bullish, including changes in the proportion of profitable supply and shifts in capital flows. They define this as the “initial stage of a new bull market”—note the wording: initial, not confirmed. The report also cautions that the selling pressure from profit-taking is rising and the market may wobble in the short term. In plain terms: the direction is bullish, but the path won’t be a straight line.
Market impact
- Short term: Profit-taking selling pressure combines with the $98.82K resistance level. BTC is currently at $79,317.7, with roughly 4.6% room to reach the key level. A solid tug-of-war is likely here, so it’s not ideal to treat short-term volatility as a trend reversal.
- Mid term: A broad shift of on-chain indicators to bullish is a real signal. Historically, when similar combinations appear, the mid-term structure tends to be bullish. With institutions framing it as the “early stage of a bull market,” it will likely strengthen outside-market allocation demand.
My take
I’m bullish, but I’ll play it in stages. The bullish flip in indicators is a fact; until $98.82K is firmly reclaimed, the chances of short-term consolidation and shakeouts are not small. Only after a breakout above $98.82K on expanding volume will the upside truly open up. Watch for support around the $98.82K zone—if it holds, the structure isn’t broken. The key risk is that if profit-taking accelerates, the depth of any pullback could exceed expectations—being bullish doesn’t mean ignoring volatility.
- Coin: BTC
- Direction: Bullish 📈 Predicting a rise
- Duration: 12 hours
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After the publication of similar news like “Bull market is coming? Peter Brandt predicts Bitcoin’s new peak at $200,000” (2024-03-03), BTC’s 12h return was +4.00%. The bullish call ✅ proved correct
- Of 282 bullish-type BTC news items in history, 122 matched the actual price direction (accuracy 43%)
#Analysis
⚠️ Not investment advice
On-chain institutions believe the key indicators have flipped after a 24% rebound in BTC, but $98.82K is the watershed level.
CryptoQuant’s latest report notes that after BTC rebounded 24% from its phase low, multiple core market metrics have turned bullish, including changes in the proportion of profitable supply and shifts in capital flows. They define this as the “initial stage of a new bull market”—note the wording: initial, not confirmed. The report also cautions that the selling pressure from profit-taking is rising and the market may wobble in the short term. In plain terms: the direction is bullish, but the path won’t be a straight line.
Market impact
- Short term: Profit-taking selling pressure combines with the $98.82K resistance level. BTC is currently at $79,317.7, with roughly 4.6% room to reach the key level. A solid tug-of-war is likely here, so it’s not ideal to treat short-term volatility as a trend reversal.
- Mid term: A broad shift of on-chain indicators to bullish is a real signal. Historically, when similar combinations appear, the mid-term structure tends to be bullish. With institutions framing it as the “early stage of a bull market,” it will likely strengthen outside-market allocation demand.
My take
I’m bullish, but I’ll play it in stages. The bullish flip in indicators is a fact; until $98.82K is firmly reclaimed, the chances of short-term consolidation and shakeouts are not small. Only after a breakout above $98.82K on expanding volume will the upside truly open up. Watch for support around the $98.82K zone—if it holds, the structure isn’t broken. The key risk is that if profit-taking accelerates, the depth of any pullback could exceed expectations—being bullish doesn’t mean ignoring volatility.
- Coin: BTC
- Direction: Bullish 📈 Predicting a rise
- Duration: 12 hours
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After the publication of similar news like “Bull market is coming? Peter Brandt predicts Bitcoin’s new peak at $200,000” (2024-03-03), BTC’s 12h return was +4.00%. The bullish call ✅ proved correct
- Of 282 bullish-type BTC news items in history, 122 matched the actual price direction (accuracy 43%)
#Analysis
⚠️ Not investment advice
