Bitcoin

Cryptocurrency analyst Benjamin Cowen has presented an analysis of Bitcoin&#39;s market cycles. He used the miner capitalization to thermodynamic capitalization ratio to analyze BTC&#39;s current status. Cowen suggested that the current market might be approaching major resistance levels while institutional investors like MicroStrategy continue to accumulate Bitcoin.The analysis focuses on the minor cap to thermocap ratio. This is a metric comparing miners&#39; total holdings value to their cumulative revenue. Historical data shows a pattern of descending peaks across market cycles, with previous cycles showing ratios of 33.5, 26, 17-18, and 11-12, respectively. Following this trend, Cowen projects the next potential peak could occur around a ratio of 7-8, compared to the current reading of 6.This descending pattern aligns with other market indicators Cowen has previously analyzed. This includes the stock-to-flow deflection and the pi cycle top. The current ratio&#39;s proximity to projected resistance levels suggests <a href="https://cryptotale.org/btcs-roller-coaster-ride-massive-sell-wall-causes-slump/" rel="noopener noreferrer nofollow">Bitcoin</a> could face overhead pressure if its price continues to rise quickly in the short term.<a href="https://cryptotale.org/analyst-warns-of-resistance-as-bitcoin-awaits-post-etf-peak/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Analyst Warns of Resistance as Bitcoin Awaits Post-ETF Peak

CryptoTale

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