On-chain analytics firm CryptoQuant has tempered expectations regarding Bitcoin’s recent price recovery, suggesting that the upward movement is likely a ‘relief rally’ rather than the beginning of a fresh bullish cycle. According to the firm’s latest report, several key indicators, including stablecoin liquidity and retail market demand, remain insufficient to support a sustained long-term breakout. Analysts pointed out that while prices have bounced back from recent lows, the volume of new capital entering the market has not seen a significant uptick. The report notes that for a true bullish trend to emerge, there needs to be a more pronounced increase in buying pressure and a revival in network activity. Consequently, analysts suggest that the market remains in a cautious phase, with the current price action potentially leading to further consolidation rather than an immediate return to all-time highs.
Source: Bitcoin rebound appears a ‘relief rally,’ not the start of a new bullish cycle, says CryptoQuant
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