Bitcoin’s market cycle continues to hover at a critical neutral position, suggesting significant potential for price growth before the current bull run reaches its peak. Key on-chain indicators point to sustained momentum despite recent price records.
The Index Bitcoin Cycle Indicators (IBCI) from CryptoQuant reveals Bitcoin’s market dynamics remain steady without signs of overheating, even after achieving all-time highs. Concurrently, Bitcoin’s Puell Multiple – measuring miner revenue against its annual average – remains unusually low during this bullish phase, indicating room for increased mining profitability and market enthusiasm.
Historical patterns demonstrate that the IBCI’s neutral equilibrium zone typically precedes substantial price movements, suggesting potential for renewed bullish momentum. Notably, Bitcoin’s recent peak near $112,000 failed to trigger traditional bull market top signals, reinforcing analysis that the current cycle may extend further.