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Real Vision analyst Jamie Coutts says that the stage is being set for a crypto bull market as multiple indicators turn bullish. On the social media platform X, Coutts says nearly every metric he uses to measure the health of the Bitcoin market cycle is no longer in “overheated” territory, boding well for BTC. “Over the past seven months, Bitcoin’s consolidation has significantly cooled valuation metrics that were overheated in Q1. With the exception of Open Interest at an all-time high (100th percentile), nearly every metric – from MVRV (market value to realized value) and Puell to LTH SOPR (long-term holder spent output profit ratio) and Network Value to Addresses – has reset below the 50th percentile. Much of the sell-off was driven by excess leverage in the derivatives market, mainly on the long side, and that overhang has finally cleared. In September, we saw a classic reload signal with the Puell Multiple briefly hitting oversold, while ne...

A veteran trader says that it would be unwise to attempt to start calling for a top in the crypto bull market. The pseudonymous trader known as The Flow Horse tells his Telegram channel that based on many charts, including Bitcoin (BTC), Gold futures, and the Nasdaq, there’s a clear bull market underway that could be costly to bet against. “I said this in 2020 I will say it again now, if you are late to the break upward and having trouble entering, just buy and walk away. One weekly strong close through the level and that’s it. The effectiveness of high timeframe acceptance is hard to argue… I am not going to guess how long the party lasts but you are an idiot if you are calling tops right now. Naturally, someone will and then be loud about it when it eventually works, but they are just part of what is expected in a large sample.” The Flow Horse also says that the crypto market is at a point where Bitcoin could steal liquidity away ...