"Bitcoin Appears to Have Reached Its Peak... Market Sentiment Optimistic"

Son Min

Summary

BCA Research has indicated that Bitcoin prices may have reached their peak, drawing significant attention from investors.
With 90% of the total Bitcoin supply in a profit state, it historically suggests the possibility of a price peak.
The current market sentiment, such as the increase in the use of cryptocurrency trading apps, is analyzed as a sign of Bitcoin price peaking.

An analysis has emerged suggesting that the price of Bitcoin (BTC) may have reached its peak.

According to O'Daily on the 11th (local time), BCA Research stated, "The price of Bitcoin may be nearing its peak," citing "an optimistic sentiment prevailing in the cryptocurrency market." They further explained, "90% of the total Bitcoin supply is in a profit state," and historically, when this ratio is high, Bitcoin prices have often reached their peak.

The issuance of a meme coin by President Trump was also noted. The research indicated, "Trump's official meme coin reflects a desire for personal wealth rather than the benefit of the majority," adding that "this phenomenon reflects an overheated market sentiment." They reiterated that considering the strong sentiment in the cryptocurrency market, with 8 out of the top 10 financial apps by download being cryptocurrency trading apps, the possibility of Bitcoin prices being at their peak is high.

BTC