CryptoQuant Analyst Predicts Bitcoin (BTC) Surge: ‘Bull Run Not Over, Anticipate June Rally!’

<ul>
  <li>CryptoQuant analyst asserts that the Bitcoin bull market is not over and significant gains are still ahead.</li>
  <li>Last week, the shift in sentiment towards Ethereum ETFs from negative to positive led to a substantial rise in ETH and ETH-based altcoins, while Bitcoin experienced a relatively limited increase.</li>
  <li>Despite concerns among BTC investors about further declines following today's Mt.Gox transfers, a positive analysis from a CryptoQuant analyst provided reassurance.</li>
</ul>
<p><strong>Discover why the Bitcoin bull market is far from over and what to expect in the coming months.</strong></p>
<h2><strong>Bitcoin Bull Market: Not Over Yet!</strong></h2>
<p>The CryptoQuant analyst utilized the MVRV ratio to support their claim that the Bitcoin bull market is still ongoing and poised for further gains. By comparing historical bull market MVRV ratios, the analyst highlighted that in previous cycles, the MVRV ratio reached levels of 4.83 and 3.97 before Bitcoin peaked. In the current bull cycle, the MVRV ratio has only reached a high of 2.78, suggesting that there is still room for growth. The analyst pointed to June as a potential period for a significant rise, noting that Bitcoin has not yet entered the overvalued territory.</p>
<h3><strong>Historical MVRV Ratios Indicate Further Upside</strong></h3>
<p>By examining past bull markets, the analyst noted that the MVRV ratio peaked at 4.83 and 3.97, respectively, before Bitcoin reached its zenith. In contrast, the current bull cycle has seen the MVRV ratio peak at just 2.78. This discrepancy suggests that Bitcoin has not yet reached its full potential in the current cycle. The analyst emphasized that Bitcoin has not entered the overvalued zone and that further gains are likely, particularly around June.</p>
<h2><strong>Bitcoin's Selling Pressure Has Decreased!</strong></h2>
<p>CryptoQuant's head of research, Julio Moreno, also provided a positive assessment of BTC's price, noting that the selling pressure on BTC has diminished. Moreno explained that the intense selling has subsided, removing obstacles for further price increases. He highlighted that the difference between Bitcoin's price now and in March when it was $70,000 is significant. The all-time high (ATH) led many investors to realize profits, resulting in heavy selling. At the beginning of March, unrealized profits among Bitcoin investors were at 69%, but this figure dropped to 3% following the ATH and subsequent selling. Currently, investors are not in a position to sell at a profit, reducing the selling pressure on BTC.</p>
<h3><strong>Implications for Future Bitcoin Price Movements</strong></h3>
<p>Moreno's analysis indicates that the reduced selling pressure could pave the way for further price increases. With fewer investors in a position to sell at a profit, the likelihood of significant downward pressure on BTC's price diminishes. This scenario creates a more favorable environment for Bitcoin to continue its upward trajectory.</p>
<h3><strong>Conclusion</strong></h3>
<p>In summary, both the CryptoQuant analyst and Julio Moreno provide compelling arguments for the continuation of the Bitcoin bull market. The MVRV ratio analysis suggests that Bitcoin has not yet reached its peak, while the reduction in selling pressure creates a more conducive environment for further price increases. Investors should keep an eye on the market dynamics as we approach June, which could be a pivotal month for Bitcoin's price movements.</p>