Crypto analytics company CryptoQuant has analyzed the latest trends in the Bitcoin market and concluded that the largest cryptocurrency has entered a new phase in its cycle. Despite recently surpassing the $100,000 threshold and experiencing a strong increase over the past 12 months, Bitcoin is still in the early distribution phase and has room for further growth. The analysis integrates the Dow Theory, dividing market trends into accumulation and distribution phases. Although Bitcoin is currently in a distribution cycle, it has the potential to reach new highs, as the funding rate remains relatively low and the market is not overleveraged. Analysts suggest that under stable macroeconomic conditions, Bitcoin has further growth potential. The analytics firm identifies a fair price indicator and lower spot support level at $87,990 for Bitcoin.



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