Bitcoin Bull Market Indicators Untriggered Amid $1.7 Billion Whale Sell-Offs

Several indicators are traditionally used to predict the peak of Bitcoin's bull market cycles. Currently, 30 such indicators tracked by Coinglass remain untriggered, suggesting Bitcoin has not yet reached its cycle peak.

  • None of the 30 peak indicators have been triggered, indicating more potential for growth before a bear market begins.
  • The Bitcoin Dominance indicator is at 92.76%, close to being activated, but still below the needed 65% mark.
  • Long-term holder supply is above 15 million BTC, with a trigger point set below 13.5 million BTC.
  • Short-term holder supply is under 25%, needing to exceed 30% to trigger its respective signal.

Sell-Offs Affecting Bitcoin Market

  • Despite untriggered indicators, significant sell-offs are impacting Bitcoin.
  • Early Bitcoin whales have reportedly sold over $1.7 billion in BTC between October and November.
  • A recent sale involved another whale offloading 10,000 BTC, valued at over $1 billion.

These activities suggest that premature market pressure may be driving Bitcoin toward a bear market ahead of expected cycle peaks.

Bitcoin price chart from Tradingview.com