Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin’s current cycle could have reached its peak, according to Peter Brandt.</li> 
 <li>Other market analysts argue that Bitcoin is on track with historical market cycle movements.</li> 
</ul>  
<p>Peter Brandt suggests that the current cycle of <a href="https://coineagle.com/price/bitcoin/">Bitcoin (BTC)</a> may have reached its peak. He notes that the cycle is taking too long to hit a new all-time high, which could indicate that a Bitcoin cycle top is already in place.</p> 
<h2 id="differing-analyst-opinions">Differing Analyst Opinions</h2> 
<p>Contrarily, other cryptocurrency analysts disagree with Brandt’s bearish outlook. For instance, Benjamin Cowen argues that Bitcoin is on track and aligns with previous market cycle movements. He asserts that Bitcoin is around where it typically is at this point in the market cycle.</p> 
<p>CryptoQuant founder Ki Young Ju suggests that the next phase of the Bitcoin rally could begin in the fourth quarter, citing likely actions by whales.</p> 
<h2 id="market-conditions">Market Conditions</h2> 
<p>Market conditions appear primed for a short squeeze, according to K33 Research. They note that Bitcoin’s perps notional open interest has increased by 30k since August 13, with consistently negative funding rates.</p> 
<p>Glassnode reveals that Bitcoin’s Long-Term Holders (LTH) have reduced profit-taking, which historically tends to precede a new price uptrend.</p> 
<p>However, CryptoQuant notes that Bitcoin inventory on over-the-counter (OTC) markets has risen to a two-year high, which could potentially hinder Bitcoin’s recovery in the short term.</p> 
<p>While historical trends post-halving suggest Bitcoin has more upside potential, the rising Bitcoin balance on OTC markets could pose risks to the expected rally.</p>

Peter Brandt Predicts Absence of a New Bitcoin ATH: Here’s Why

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CoinEagle.com

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