Bitcoin\u2019s (BTC) on-chain data indicates the market has entered a mature \u201cspeculative phase.\u201d This means that the crypto asset could be in the later stages of the current bull cycle.<\/p>\n
According to indicators, in particular, the Net Unrealized Profit\/Loss (NUPL) ratio and the composition of Bitcoin\u2019s Realized Cap, investor behavior is showing classic late-cycle traits.<\/p>\n
CryptoQuant observed<\/a> that the NUPL stands at +0.52, a level which has been previously associated with the transition from optimism to euphoria, as seen during the 2017 and 2021 peaks. With roughly 97% of the circulating supply now in profit, confidence in the market is strong, though this also leaves limited room for further upside without a cooling period.<\/p>\n Meanwhile, short-term holders now represent 44% of Bitcoin\u2019s realized capitalization. This is the highest on record, essentially meaning that long-term holders are taking profits while newer investors, the so-called \u201cnew whales,\u201d are increasingly dominating market control.<\/p>\n In previous cycles, this shift from long-term to short-term holder dominance has marked the final expansion phase of a bull market. However, the current setup appears more complex. Institutional inflows through spot ETFs, expanding stablecoin liquidity, and broader market participation are helping to absorb sell pressure, resulting in a steadier form of speculative momentum. Overall, on-chain metrics portray a market driven by strong liquidity and sustained inflows, rather than retail exuberance alone.<\/p>\n Analysts suggest that a drop in the short-term holder share could signal the next major transition, depicting a move from speculation back toward accumulation, which is typically led by long-term investors preparing for the next cycle.<\/p>\n Santiment took a cautious stance as it found<\/a> that Bitcoin is holding<\/a> just above $113,000 amid mild bullish sentiment from traders. The last major move occurred Sunday when retail anticipated a drop below $100,000, which created an ideal buy zone. Price action often goes in the opposite direction of popular sentiment.<\/p>\n Additionally, crypto analyst Ali Martinez noted that the crypto asset must reclaim $119,000 to sustain bullish momentum; failure could trigger a correction toward $96,530, according to Pricing Bands.<\/p>\n The post Bitcoin Enters Speculative Mode: Here\u2019s What It Means For Investors<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s (BTC) on-chain data indicates the market has entered a mature \u201cspeculative phase.\u201d This means that the crypto asset could be in the later stages of the current bull cycle. According to indicators, in particular, the Net Unrealized Profit\/Loss (NUPL) ratio and the composition of Bitcoin\u2019s Realized Cap, investor behavior is showing classic late-cycle traits. […]<\/p>\n","protected":false},"author":0,"featured_media":104955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-104954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/104954"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=104954"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/104954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/104955"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=104954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=104954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=104954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Caution Warranted<\/h2>\n