Bitcoin (BTC) Cycle Peak Might Be Far Away, But Here's What to Expect in the Short Term

After getting bullish for a short while, Bitcoin [BTC] once again witnessed a major price correction. The recent price drop might have once again sparked

Bitcoin [BTC] recently faced another major price correction after a brief bullish period. The latest price drop may have once again instilled fear among BTC investors.

However, zooming out revealed that BTC was far from reaching the peak of this cycle.

Bitcoin’s upcoming peakCoinMartketCap’s data showed that BTC’s price fell by 13% over the last seven days. During the last 24 hours, the coin’s value dropped by close to 3%.

At the time of writing, BTC was trading at $55,412.77 with a market capitalization of over $1.09 trillion.

AMBCrypto’s analysis of IntoTheBlock’s data showed that after the latest price correction, only 75% of BTC investors were in profit, which accounted for over 40.47 million addresses.

Source: IntoTheBlockHowever, the entire trend may change in the upcoming years.

Milkybull, a renowned crypto analyst, recently took to Twitter to highlight the connection between Bitcoin halvings and its cycle peak.

The analysis showed that BTC’s price has always reached a peak nearly two years after halvings. For example, after the 2012 halving, BTC peaked in 2014.

After BTC’s third halving in 2020, its price reached a cycle peak in 2022. So, if history repeats, investors may see BTC reach a cycle high in 2026, as the 4th halving occurred in 2024.

Source: XThe latest analysis suggested that investors should remain confident if the king of cryptos chose to HODL, as the profits they may earn in the upcoming years could be massive.

AMBCrypto’s analysis of IntoTheBlock’s data showed that investors were indeed showing a lot of confidence in the coin.

This seemed to be the case, as more than 70% of BTC holders were long-term holders, meaning that they were holding the coin for more than a year.

Source: IntoTheBlockWhat to expect in the short-termSince things in the long run looked quite optimistic, AMBCrypto aimed to check BTC’s on-chain data to see what to expect in the short term, as it recently saw a correction.

Our analysis of CryptoQuant’s data showed that BTC’s exchange reserve was dropping, indicating that the selling pressure on the token was reducing.

Its binary CDD was green, which meant that long-term holders’ movements in the last seven days were lower than average. They have a reason to be holding their coins.

Read Bitcoin’s [BTC] Price Prediction 2024-2025These metrics suggested that Bitcoin’s price chart may soon turn green.

However, its derivatives metrics were bearish. For example, BTC’s taker buy/sell ratio was red, suggesting that selling sentiment was dominant in the market.

Source: CryptoQuant