bullish

Bitcoin

Grow

<ul class="wp-block-list">
 <li>Bitcoin’s MVRV Z-Score and Puell Multiple indicate continued growth toward a $158K target.</li>  
 <li>Current indicators suggest Bitcoin has room to rise before reaching the market cycle peak.</li>  
 <li>Bitcoin's bullish momentum points to a $158K target by 2025, supported by on-chain data.</li> 
</ul>  
<p>Recently, <a href="https://cryptonewsland.com/next-bullish-targets-for-bitcoin-btc-116652-to-over-165000/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> reached $103,647, setting a new all-time high on December 5. While prices briefly dipped, the cryptocurrency rebounded strongly, forming higher lows and nearing previous highs. Analysts now believe the $158,000 target for 2025 remains firmly in place. Key on-chain indicators, including the MVRV Z-Score and Puell Multiple, suggest further growth is likely before the current market cycle ends.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/Washigorira/status/1867934099903795331
 </div>
</figure>  
<h2 class="wp-block-heading" id="h-mvrv-z-score-hints-at-more-room-to-grow">MVRV Z-Score Hints at More Room to Grow</h2>  
<p>The MVRV Z-Score compares <a href="https://cryptonewsland.com/bitcoin-btc-price-expected-to-break-150000-if-trump-wins-presidency-btc-whales-accumulate-at-increased-pace/" rel="noopener noreferrer nofollow">Bitcoin’s market value</a> to its realized value. This metric highlights whether Bitcoin is undervalued or overbought. Readings near 7 have historically marked the end of market cycles, with previous highs recorded at 12.52, 11.01, and 7.55.</p>  
<p>In this cycle, the <a href="https://en.macromicro.me/charts/30335/bitcoin-mvrv-zscore" rel="noopener noreferrer nofollow">MVRV Z-Score</a> currently sits at 3.2. The descending resistance trendline connecting past highs lies at 4.5, leaving room for further increases. Even if the current trend persists, the indicator has yet to reach overbought levels. This suggests the market still holds potential for further gains.</p>  
<h2 class="wp-block-heading" id="h-puell-multiple-supports-a-bullish-outlook">Puell Multiple Supports a Bullish Outlook</h2>  
<p>The <a href="https://www.coinglass.com/pro/i/PM" rel="noopener noreferrer nofollow">Puell Multiple</a> evaluates miner profitability by dividing daily Bitcoin issuance by a 365-day moving average. In earlier cycles, this metric reached an initial high before halving, followed by a higher high at the market’s peak.</p>  
<p>This cycle has seen the Puell Multiple hit 2.20 before halving, later dropping to 1.22. If the historical pattern repeats, the metric will surpass 2.20 again, signaling that the market cycle has further to run. This aligns with the expectation of continued bullish momentum.</p>  
<p>Both the MVRV Z-Score and Puell Multiple emphasize Bitcoin’s room for growth. Combined with strong price action, these indicators suggest the $158,000 target for 2025 remains achievable. Bitcoin’s trajectory inspires optimism as it approaches new milestones.</p>   
<p>The post <a href="https://cryptonewsland.com/analyzing-bitcoins-bull-pennant/" rel="noopener noreferrer nofollow">Bitcoin Bull Pennant Confirms $158K by 2025: A Closer Look at the Trend</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Bull Pennant Confirms $158K by 2025: A Closer Look at the Trend

Table of Contents

Crypto News Land

Other articles published on Dec 16, 2024

PEPE Millionaire Trader Names 3 Meme Coins to Explore for Massive x250 Returns During Altcoin Season

What will and should crypto regulation look like under Trump? – Stakeholders weigh in

South Korea Hits Record $34B in 24-Hour Crypto Trading Volume Amid Emergency Martial Law

What is a Pip in Forex? Understanding Pips and Their Role in Trading

Aave Contributor Proposes Exit from Polygon over ‘Risky’ Bridge

Chill Pepe (CHILPEPE) Memecoin Will Explode Over 14,000% Before Exchange Listings, While Shiba In...

Join our free newsletter for daily crypto updates!