Ethereum

bullish

Starknet

Bitcoin

Captain

<p>Let’s be honest – it’s been a horrible few months for crypto traders. <a href="https://captainaltcoin.com/why-bitcoin-btc-price-could-dip-further/" target="_blank" rel="noopener noreferrer nofollow">Prices have been in a downtrend</a> since the beginning of summer, and September hasn’t been pleasant so far either. It’s actually been quite the opposite.</p>
<p>Specifically, <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum has had awful price action</a> throughout the whole bull run and is now trading below the $2.4k level after plummeting 8% this week.</p>
<p>Bitcoin isn’t doing much better, with the price hovering around $56k after a 7% plunge during the same period.</p>
<p>So, a lot of traders are now wondering – did Bitcoin already peak in March?</p>
<h2 class="wp-block-heading" id="analyzing-the-bull-run-is-there-more-to-come">Analyzing the Bull Run: Is There More to Come?</h2>
<p>CryptoQuant, a respected blockchain analytics platform, posted an analysis on this topic, and they definitely think Bitcoin hasn’t reached a cycle top yet.</p>
<p>According to their report, “In March 2024, Bitcoin reached a new all-time high, leading many to question whether this marked the final market top. However, based on on-chain data analysis, it appears that March’s peak was likely an ‘initial top’ rather than the ultimate one.”</p>
<figure class="wp-block-image aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="481" src="https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-1024x481.png" alt="" class="wp-image-552082" srcset="https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-1024x481.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-300x141.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-768x361.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-1536x722.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-2048x963.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-319x150.png 319w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-744x350.png 744w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116-788x370.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/09/image-116.png 1710w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption"><em><strong>Source: <a href="https://cryptoquant.com/insights/quicktake/66d907fc6884f07ba41fe8fe-Was-Bitcoins-All-Time-High-in-March-2024-the-Market-Top" target="_blank" rel="noopener noreferrer nofollow">cryptoquant.com</a></strong></em>
 </figcaption>
</figure>
<p>The analysis focuses on a key indicator of long-term holder activity called Binary CDD (Coin Days Destroyed). While this metric showed some profit-taking around March 2024, it hasn’t reached the levels typically seen before a final market top.</p>
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<h2 class="wp-block-heading" id="long-term-holders-the-key-to-understanding-market-dynamics">Long-Term Holders: The Key to Understanding Market Dynamics</h2>
<p>CryptoQuant’s report emphasizes the importance of long-term holder behavior in determining market peaks. They note, “The absence of large-scale selling by long-term holders indicates that the market has not fully matured, and we are still far from the final peak of the bull market.”</p>
<p>This insight suggests that while we may have seen an “interim top” in March, leading to a period of consolidation, it likely wasn’t the ultimate peak of this bullish cycle. The market appears to be in a “cooling-off” phase, adjusting both price and time.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/starknet-price-pumps-as-strk-trading-volume-hits-120-million/" target="_blank" rel="noopener noreferrer nofollow">Starknet Price Pumps as STRK Trading Volume Hits $120 Million</a></strong></em></p>
<p>The report concludes by stating, “Before we reach the final top, we will likely see renewed activity from long-term holders, with Binary CDD reaching the red zone, signaling the next round of price adjustments.”</p>
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<p>The post <a href="https://captainaltcoin.com/crypto-traders-dont-you-worry-bitcoins-peak-in-march-was-a-pitstop-not-the-finish-line/" rel="noopener noreferrer nofollow">Crypto Traders, Don’t You Worry – Bitcoin’s Peak in March Was A Pitstop, Not the Finish Line</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Traders, Don’t You Worry – Bitcoin’s Peak in March Was A Pitstop, Not the Finish Line

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CaptainAltcoin

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