Leading analytics firm CryptoQuant has issued a warning about Bitcoin's potential price top after reaching a new all-time high of $94,000. Key indicators suggest that BTC's upward momentum may be near exhaustion.
The Market Value to Realized Value (MVRV) ratio, an indicator of valuation, currently at 2.62, highlights potential overvaluation that could lead BTC to a peak if it continues to rise.
The Crypto Fear and Greed Index also signals "extreme greed," indicating a potential price top approaching. This aligns with the opinions of CryptoQuant's CEO, Ki Young Ju, about possible risks ahead in the market.
Additionally, the 365-day Realized Cap Growth shows that Bitcoin is currently lacking new capital flow, with the existing inflow mainly from old money. This situation, combined with sales from long-term holders, could restrict BTC's growth.
At $94,248, Bitcoin's price remains strong within an ascending channel. The Bull Bear Power (BBP) indicator remains positive, implying bulls are still controlling the market.
If the rally continues, Bitcoin might reach $100,000. However, if the MVRV ratio approaches 3.7 without new money inflow, a correction towards $80,795 is possible.
