Experts from the analytical company CryptoQuant have noted the persistence of a bullish trend in the Bitcoin market, highlighting sustained investor interest and the potential for the price to reach $130,000.
This is reported by Finway
Bitcoin Shows Recovery After Correction
According to CryptoQuant, Bitcoin continues to move in an upward trend, despite a slight slowdown in growth over the past few weeks. Analysts have observed that the market remains balanced, with a key level for profit-taking by short-term traders identified at $130,000.
“CryptoQuant analyst Axel Adler noted that the current price of the cryptocurrency is moving within the STH-MVRV corridor—an indicator that assesses the profitability of short-term buyers. The upper limit of this range is around $130,000, where traders may realize some profits.”
At the time of writing, Bitcoin is trading at $119,668. This is 10% above the local minimum of $108,652 recorded last weekend. Such growth indicates a rapid recovery after declines and confirms investor interest in the digital asset.
Trader Strategies and Typical Market Behavior
Experts note that the current price of Bitcoin is within the STH-MVRV indicator, which shows profitability for those who purchased the asset in the short term. The upper limit of this corridor—$130,000—is viewed as a zone where it is advisable to take profits.
According to Axel Adler, investors are actively using local dips to enter the market, which contributes to the stability of the bullish momentum and creates a healthy trading structure. This lays the groundwork for further Bitcoin growth if the current trend persists.
Another CryptoQuant analyst, known by the nickname Crypto Dan, also confirmed the retention of positive momentum in the market. He emphasized that the slow growth dynamics do not indicate a weakening trend; rather, they correspond to typical cyclical patterns of Bitcoin before the onset of a new growth phase.
Dan reminded that in previous cycles, the final stages of rallies were accompanied by a decrease in the share of coins held by long-term investors. This was related to profit-taking by “old” holders and the influx of new capital, which provided additional liquidity and stimulated prices to historical highs.
As CryptoQuant analysts summarize, Bitcoin retains all the prerequisites for continuing its upward movement, and the $130,000 mark remains key for profit-taking by short-term traders.
It is worth noting that on the night of October 2 to 3, Bitcoin surpassed the $121,000 level, while Ethereum exceeded $4,500.