The post Why Bitcoin Could Still Climb to $147,000 Before Major Selling Begins appeared first on Coinpedia Fintech News
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 OverAccording to data shared by CryptoQuant author Darkfost, the Short-Term Holder Market Value to Realized Value (STH MVRV) ratio remains well below its critical threshold. This indicator measures unrealized profits for short-term Bitcoin holders and often signals when profit-taking could start.
In the past cylce, when the STH MVRV reached about 1.35, meaning holders had roughly 35% unrealized profits, Bitcoin usually faced short-term corrections as investors start taking profits. This usually leads to short-term corrections in price.
Looking at the current cycle, Darkfost notes that STH unrealized gains have never crossed the 42% mark, meaning the market hasn’t reached an extreme greed zone yet.
Right now, the STH MVRV stands near 1.15, signaling that holders are sitting on about 15% gains, far from the levels that typically spark heavy selling.
STH MVRV Signals More Upside Ahead for BTC
“Every time the STH MVRV has reached around 1.35, it has triggered profit-taking behavior… There is still room for BTC to rise by approximately 20% to 25% before hitting that critical MVRV threshold again.” – By @Darkfost_Coc pic.twitter.com/HPNehg5EJ8
What’s even more interesting is that the realized price for short-term holders just crossed $100,000 on July 11 for the first time ever. Today, it’s already above $102,000, setting a new benchmark in Bitcoin’s history.
This shift raises the threshold for profit-taking even further, creating more breathing room for the current rally.
How High Can Bitcoin Price Go?Based on past trends, Bitcoin still has room to climb by 20% to 25% before hitting the profit-taking zone near an MVRV level of 1.35. This means the market could experience another strong upward move before large-scale selling begins.
Currently, Bitcoin is trading around $118,000. If it gains 20%, the price could reach about $141,600. Meanwhile, if the bitcoin see a 25% rise would push it close to $147,500.
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.subscription-options li { display: none; } .research-report-subscribe{ background-color: #0052CC; padding: 12px 20px; border-radius: 8px; color: #fff; font-weight: 500; font-size: 14px; width: 96%; } .research-report-subscribe img{ vertical-align: sub; margin-right: 2px; }As per Coinpedia’s BTC price prediction, the Bitcoin price could peak at $168k this year if the bullish sentiment sustains.
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