Bitcoin’s Rally May Not Be Over Yet, Cryptoquant Analysts See 25% More Upside

The world’s largest cryptocurrency, Bitcoin, recently hit a new record above $123,000, only to pull back below $118,000 as profit-taking kicked in. Despite all, on-chain signals hint at more upside ahead, as a key metric used by analysts shows that short-term holders have not yet reached the usual profit levels that trigger heavy selling. 

Does this mean Bitcoin still has room left for a bigger rally?

Bitcoin Bull Run Isn’t Over

According to data shared by CryptoQuant author Darkfost, the Short-Term Holder Market Value to Realized Value (STH MVRV)…