Bitcoin Price Could Reach $100,000 According to CryptoQuant Analysis
The Bitcoin price has experienced significant growth over the past week, achieving multiple all-time highs within five days. While Donald Trump's success in the U.S. elections may have initiated this rally, the momentum appears to be self-sustaining.
Four Reasons Why $100,000 Is Possible For Bitcoin Price: CryptoQuant
CryptoQuant's latest report indicates that Bitcoin is not yet overvalued despite its recent gains. The platform suggests that Bitcoin could reach $100,000 soon.
According to CryptoQuant, the MVRV metric remains outside overvalued territory, indicating that the current bullish trend is sustainable. Additionally, the Trader On-chain Realized max band points to $100,000 as a target, recalling that a similar level was reached in March 2024 when Bitcoin first exceeded $70,000.
Demand for Bitcoin has surged following the presidential election, with Coinbase Premium remaining positive. Furthermore, crypto market liquidity has increased, with over $3.2 billion in USDT entering exchanges since the election, indicating potential for continued price growth.
Tread With Caution
Despite the positive outlook, CryptoQuant cautions that selling pressure may follow the recent rally. Some miners have begun selling assets for profit, and while current selling activity is minimal, it could escalate quickly.
