Indicators show Bitcoin is maturing, with a possible transition to a euphoric phase on the horizon. While price appreciation is slowing, the ongoing institutional interest highlights a potential for sustained growth.
The current market phase parallels the 2015-2018 cycle, with shallow drawdowns reflecting consistent demand. As Bitcoin evolves into a multi-trillion dollar asset, capital requirements for growth are increasing, yet the potential for price gains remains.
With an expected uptick in Bitcoin’s Realized Cap, the market is heading towards a more capital-intensive structure, indicating potential expansion. Limited sell-side supply may foster further bullish momentum in the coming period.
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