Investors' on-chain activity hints at Bitcoin price cycle top above $166,000
The Bitcoin cycle top would likely come in at price levels above $166,000 per coin if history repeats. After breaking out of the two-months ascending triangle, the price of Bitcoin (BTC) is firmly staying above $60,000. Current on-chain volume suggests investors are still strongly buying Bitcoin at current price levels.Furthermore, the current price is not even close to a short-term price top when comparing to historic network valuation multiples.BTC price bull run not overheated, investor activity showsWhile bear market bottoms often coincide with seller exhaustion, bull cycle tops happen....
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