Signals Suggesting Bitcoin's Bull Run Isn't Over Yet
Despite recent price consolidation, compelling on-chain data indicates Bitcoin's bull run is far from over. Analysts point to the "Liveliness" indicator, which continues to climb to new cycle highs even as prices dip. Liveliness, a long-term average of on-chain behavior comparing spending to holding, typically surges during bull markets as supply actively changes hands. This sustained rise signals a powerful underlying demand foundation, not fully reflected in current price action.
Further evidence comes from "Coin Days Destroyed" (CDD), which has seen an extraordinary surge. This metric, which weights transactions by the age of the coins moved, suggests one of the largest capital rotations in Bitcoin's history is underway as long-dormant coins move. This massive profit-taking by long-term holders is a characteristic feature of mid-to-late-stage bull markets, indicating health rather than exhaustion.
The sheer scale of this cycle also differentiates it. Transaction volumes now routinely span billions to tens of billions of dollars, dwarfing the hundreds-to-thousands dollar transactions seen in 2017. This highlights a significantly more institutionalized market.
Currently, Bitcoin ($BTC )is consolidating within a $86,000 to $92,000 range. Analysts view this as "noise," preparing for larger moves. A breakout above $92,000 could ignite the next leg up, while a retest of the low $80,000 might form a bullish double-bottom. Combined, these on-chain and technical signals paint a picture of a market poised for continued growth, with significant upside still ahead.
