CryptoQuant analysts predicted the value of bitcoin as it updates its historical high

CryptoQuant analysts have analyzed the situation on the bitcoin market BTC $117,901.92 Bitcoin 0.51% Market capitalization $2.35 trillion VOL. 24 hours $2.04 billion after reaching new historical highs and outlined two main scenarios for further developments. According to experts, the market is currently influenced by both internal and external factors, including the activity of long-term investors and the behavior of new players.

The first scenario assumes that the correction will continue. Experts point to the growth in profits among long-term BTC holders, which traditionally leads to partial profit-taking and increased pressure on the exchange rate. In this case, it is possible that the price of bitcoin may fall to the nearest support levels that have been formed in recent weeks.

The second scenario is based on a potential resumption of growth. According to experts, an important condition for this is the return of strong interest from institutional investors and a decline in sales from «old» wallets. If the flow of investments continues, bitcoin may resume growth and even update historical highs.

Analysts also emphasize that the situation remains unstable due to the influence of macroeconomic factors and the news background. Market participants are advised to closely monitor the behavior of major players and the dynamics of exchange reserves.

In general, CryptoQuant advises not to rush to conclusions, but to take into account all the risks and carefully analyze market signals before making investment decisions.