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CryptoQuant Analysts See No Signs of Weakening Bitcoin Interest
Overnight, the price of Bitcoin dropped from its previous all-time high above $126,000 to a four-month low of $98,962, before rebounding to $103,000 earlier today. Analysts at CryptoQuant examined the situation and dismissed claims that a bear market has begun.
According to CryptoQuant analyst Minyol, despite current volatility, interest in the crypto industry — and Bitcoin in particular — remains strong.
He noted that before the launch of ETFs, investors relied mainly on ratio-based indicators, often overlooking volume data. However, this changed once ETFs were approved.
Minyol explained that traders tend to focus only on ratios, which can create the illusion that the market is not overheated — but that’s not the case.
Currently, investor interest remains notably high, evidenced by a 33% overnight increase in Bitcoin trading volume to $111 billion.
While market sentiment is mixed — with BTC underperforming U.S. Treasury bonds — expectations for a continued bullish trend remain strong.
Supporting Bitcoin’s position is the fact that altcoins, led by Ethereum, have suffered even greater losses, pushing Bitcoin dominance higher.
Many market experts warn of potential volatility in the coming weeks, but view the current sell-off as a healthy correction, likely setting the stage for long-term growth.
See also: "Bitcoin Reserve Could Help Reduce U.S. National Debt — Cynthia Lummis"
