Bitcoin’s Bull Cycle: Analyst Says The Upside Isn’t Over Yet

Bitcoin has shown some resilience after weeks of consistent price declines, recording a slight upward move in the past day. However, the recovery has not been sufficient to reverse the prevailing bearish sentiment, with the cryptocurrency still trading below the key psychological level of $100,000.

Notably, according to a recent insight shared by a CryptoQuant analyst known as Crypto Dan, this latest uptick from Bitcoin might just be an early sign of stabilization.

In Crypto Dan’s latest analysis titled “Crypto Market – The Bull Cycle Isn’t Over Yet,” Dan discussed several indicators suggesting that the current market phase still has room for growth.

Notably, he highlighted that Bitcoin’s valuation metrics remain below historical overvaluation levels, and other market conditions point to potential upside in the longer term.

According to Dan, the MVRV (Market Value to Realized Value) ratio, a metric that measures whether Bitcoin is overvalued or undervalued relative to its historical performance, remains well below the peaks seen in prior bull cycles. This indicates that Bitcoin might still have substantial upward potential.

#Bitcoin $BTC momentum has shifted, signaling a possible trend reversal! pic.twitter.com/vfxoJaIfkT

— Ali (@ali_charts) February 13, 2025

Dan also noted that certain hallmark signs of a market top—such as a surge in new capital inflows typically associated with altcoin season—have yet to materialize, suggesting that the bull cycle may still be in progress.

In addition, Dan pointed to recent macro-level developments, such as the approval of spot ETFs and the early stages of pro-Bitcoin policies under former President Trump’s administration. These factors, he argued, could help boost confidence in the cryptocurrency market, providing the foundation for a sustained recovery.

Bitcoin is currently trading for $95,999, at the time of writing following a drop of nearly 10% in the past two weeks. Although the asset has managed to see a slight uptick of 1% in the past day, it remains below the $100,000 price mark.

At current market prices, BTC is roughly an 11.5% decrease away from its all-time high (ATH) above $109,000 recorded in January. Interestingly, despite the decline in BTC, its daily trading volume has seen an opposite trend.

Particularly, over the past few days, this metric was able to see a noticeable surge increase from below $25 billion as of February 9 to now sitting above $37 billion, as of today.

Aside from Dan’s BTC MVRV ratio’s bullish indication, other analysts have shared their technical perspective on Bitcoin disclosing that a major rally is on the horizon.

Featured image created with DALL-E, Chart from TradingView