<ul><li>Bitcoin is currently in a bull market, but certain metrics suggest a short-term top may have been reached, potentially leading to a price correction.</li><li>Metrics related to Bitcoin's demand growth are overheating, with BTC balances held by whales increasing by 2.8% over the past month and demand growth estimated at 229,000 BTC.</li><li>Bitcoin's Traders’ Unrealized Profit Margin has approached a level indicating potential price resistance, with the metric hitting 32% when BTC rallied past $111,000.</li><li>While BTC faces a possibility of continued rally, it fell below $104,000, showing a 2% decrease in 24 hours. Despite this, analysts believe the bull cycle is not ending, and market conditions indicate strength in bitcoin's upward trajectory.</li></ul>

These Metrics Are Overheating While Bitcoin Remains Bullish: CryptoQuant

Discover more