{"id":596108,"date":"2024-03-04T16:00:28","date_gmt":"2024-03-04T16:00:28","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=596108"},"modified":"2024-06-11T08:12:10","modified_gmt":"2024-06-11T08:12:10","slug":"cryptoquants-bitcoin-bull-bear-price-overheated","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/cryptoquants-bitcoin-bull-bear-price-overheated\/","title":{"rendered":"CryptoQuant’s Bitcoin “Bull-Bear” Indicator Flags Price As Overheated"},"content":{"rendered":"

The Bitcoin “bull-bear” indicator from the on-chain analytics firm CryptoQuant has recently flagged the cryptocurrency’s price to be “overheated.”<\/p>\n

Bitcoin May Be Overheated According To This Indicator<\/h2>\n

As pointed out by CryptoQuant Head of Research Julio Moreno in a post<\/a> on X, the BTC price has increased so fast that some on-chain indicators have started to signal a potential phase of overheating.<\/p>\n

Related Reading: Bitcoin Safe From Drops Under $60,300? On-Chain Data Says So<\/a><\/div>\n

The first metric of interest here is the Bitcoin Bull-Bear Market Cycle Indicator made by the analytics firm that tracks the various phases of bull and bear markets.<\/p>\n

Here is how the indicator has looked like over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The trend in the bull-bear indicator for the cryptocurrency | Source: @jjcmoreno on X<\/a><\/pre>\n
As displayed in the above graph, Bitcoin has been inside the “bull” territory since the early part of 2023 and over the course of this run, the metric has hit “overheated bull” levels during a few different instances.<\/p>\n
From the chart, it’s visible that such values of the indicator have previously coincided with some kind of top in the cryptocurrency’s price. With the latest rally in the asset, it would appear that the market has once again entered into this territory of overheating.<\/p>\n
Another metric, the BTC “Miner Profit\/Loss Sustainability,” is also suggesting an overheated market, according to Moreno. This indicator basically keeps track of whether the miners<\/a> are being overpaid or underpaid compared to the fair value baseline.<\/p>\n
\"Bitcoin<\/p>\n
The value of the metric appears to have spiked recently | Source: @jjcmoreno on X<\/a><\/pre>\n
As displayed in the chart, the Bitcoin Miner Profit\/Loss Sustainability has entered into the “extremely overpaid” zone after the price surge, implying that a cool off might perhaps be due.<\/p>\n
Finally, the Bitcoin short-term holders<\/a> (STHs) are also sitting on large profits at the moment, which can be another sign that things have started to heat up.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the metric has been quite high in recent days | Source: @jjcmoreno on X<\/a><\/pre>\n
The STHs refer to the Bitcoin investors who bought their coins within the past 155 days. These holders are considered the weak hands of the sector, who may easily sell at the sight of FUD or FOMO.<\/p>\n
As the above chart shows, this cohort’s unrealized profits<\/a> have swelled up as the Bitcoin price has enjoyed its rally. Recently, they have achieved profit margins upward of 45%.<\/p>\n
At any point, holders in profits are more likely to sell their coins. As these profits rise, the probability of the investor buckling into the allure of profit-taking also increases.<\/p>\n
Related Reading: Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures<\/a><\/div>\n
As such, a large amount of these fickle-minded Bitcoin investors holding significant profits means that there is a high risk of a potential selloff taking place in the market.<\/p>\n
While all these indicators are pointing to the cryptocurrency perhaps being overvalued, there has still been a positive development in an indicator. This metric is the “Inflows to Accumulation Addresses.”<\/p>\n
\"Bitcoin<\/p>\n
The indicator appears to have spiked | Source: @jjcmoreno on X<\/a><\/pre>\n
Accumulation addresses are defined as those that have a history of only buying Bitcoin and never of selling. At present, these HODLers are observing an all-time high amount of inflows, which can definitely be a bullish sign.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has seen the latest continuation to its run in the past 24 hours as its price has now broken past the $65,100 barrier.<\/p>\n
\"Bitcoin<\/p>\n
BTC has observed a sharp surge recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Shutterstock.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Bitcoin “bull-bear” indicator from the on-chain analytics firm CryptoQuant has recently flagged the cryptocurrency’s price to be “overheated.” Bitcoin May Be Overheated According To This Indicator As pointed out by CryptoQuant Head of Research Julio Moreno in a post on X, the BTC price has increased so fast that some on-chain indicators have started to signal a potential phase of overheating. Related Reading: Bitcoin Safe From Drops Under $60,300? On-Chain Data Says So The first metric of interest here is the Bitcoin Bull-Bear Market Cycle Indicator made by the analytics firm that tracks the various phases of bull and bear markets. Here is how the indicator has looked like over the past year: The trend in the bull-bear indicator for the cryptocurrency | Source: @jjcmoreno on X As displayed in the above graph, Bitcoin has been inside the “bull” territory since the early part of 2023 and over the course of this run, the metric has hit “overheated bull” levels during a few different instances. From the chart, it’s visible that such values of the indicator have previously coincided with some kind of top in the cryptocurrency’s price. With the latest rally in the asset, it would appear that the market has once again entered into this territory of overheating. Another metric, the BTC “Miner Profit\/Loss Sustainability,” is also suggesting an overheated market, according to Moreno. This indicator basically keeps track of whether the miners are being overpaid or underpaid compared to the fair value baseline. The value of the metric appears to have spiked recently | Source: @jjcmoreno on X As displayed in the chart, the Bitcoin Miner Profit\/Loss Sustainability has entered into the “extremely overpaid” zone after the price surge, implying that a cool off might perhaps be due. Finally, the Bitcoin short-term holders (STHs) are also sitting on large profits at the moment, which can be another sign that things have started to heat up. Looks like the value of the metric has been quite high in recent days | Source: @jjcmoreno on X The STHs refer to the Bitcoin investors who bought their coins within the past 155 days. These holders are considered the weak hands of the sector, who may easily sell at the sight of FUD or FOMO. As the above chart shows, this cohort’s unrealized profits have swelled up as the Bitcoin price has enjoyed its rally. Recently, they have achieved profit margins upward of 45%. At any point, holders in profits are more likely to sell their coins. As these profits rise, the probability of the investor buckling into the allure of profit-taking also increases. Related Reading: Bitcoin Volatility Induces $700 Million Carnage In Crypto Futures As such, a large amount of these fickle-minded Bitcoin investors holding significant profits means that there is a high risk of a potential selloff taking place in the market. While all these indicators are pointing to the cryptocurrency perhaps being overvalued, there has still been a positive development in an indicator. This metric is the “Inflows to Accumulation Addresses.” The indicator appears to have spiked | Source: @jjcmoreno on X Accumulation addresses are defined as those that have a history of only buying Bitcoin and never of selling. At present, these HODLers are observing an all-time high amount of inflows, which can definitely be a bullish sign. BTC Price Bitcoin has seen the latest continuation to its run in the past 24 hours as its price has now broken past the $65,100 barrier. BTC has observed a sharp surge recently | Source: BTCUSD on TradingView Featured image from Shutterstock.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":596161,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,13790,11614,91774,88595,679,84738,1119,83531],"class_list":["post-596108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bear","tag-bitcoin-bull","tag-bitcoin-bull-bear-indicator","tag-bitcoin-overheated","tag-bitcoin-price","tag-bitcoin-top","tag-btc","tag-cryptoquant"],"acf":[],"yoast_head":"\nCryptoQuant's Bitcoin "Bull-Bear" Indicator Flags Price As Overheated<\/title>\n<meta name=\"description\" content=\"The Bitcoin "bull-bear" indicator from the on-chain analytics 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/shenyangcang.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CryptoQuant’s Bitcoin “Bull-Bear” Indicator Flags Price As Overheated","url":"http:\/\/shenyangcang.com\/news\/cryptoquants-bitcoin-bull-bear-price-overheated\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/cryptoquants-bitcoin-bull-bear-price-overheated\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/shutterstock_2074133723.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/shutterstock_2074133723.jpg?fit=3840%2C2160"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bear","bitcoin bull","bitcoin bull-bear indicator","bitcoin overheated","bitcoin price","bitcoin top","btc","cryptoquant"],"dateCreated":"2024-03-04T16:00:28Z","datePublished":"2024-03-04T16:00:28Z","dateModified":"2024-06-11T08:12:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CryptoQuant’s Bitcoin “Bull-Bear” Indicator Flags Price As Overheated\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/cryptoquants-bitcoin-bull-bear-price-overheated\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/cryptoquants-bitcoin-bull-bear-price-overheated\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_2074133723.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/shutterstock_2074133723.jpg?fit=3840%2C2160\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bear\",\"bitcoin bull\",\"bitcoin bull-bear indicator\",\"bitcoin overheated\",\"bitcoin price\",\"bitcoin top\",\"btc\",\"cryptoquant\"],\"dateCreated\":\"2024-03-04T16:00:28Z\",\"datePublished\":\"2024-03-04T16:00:28Z\",\"dateModified\":\"2024-06-11T08:12:10Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/03\/shutterstock_2074133723.jpg?fit=3840%2C2160","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/596108"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=596108"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/596108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/596161"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=596108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=596108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=596108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}