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Bitcoin’s Surge Not Yet a Bull Market Signal: CryptoQuant

In a surprising turn of events, Bitcoin has shattered its historical resistance level, sparking widespread speculation about the onset of a new Bull Run. However, data from CryptoQuant, a leading provider of on-chain market intelligence, suggests that the market may not be quite ready to embark on a sustained upward trajectory.

Despite the recent breakthrough, the Netflow of stablecoins—a key indicator of market liquidity and investor sentiment—remains at moderate levels, contrasting sharply with the heightened activity observed during previous cycles. This discrepancy raises questions about the market’s readiness for a Bull Run phase.

Source: CryptoQuant

Experts from CryptoQuant have pointed out that the current market conditions, characterized by cautious investor behavior and a lack of significant Netflow, could imply that the crypto market is still in a phase of consolidation. The market’s true potential is likely to unfold in the months following the much-anticipated halving event, which historically has acted as a catalyst for major market movements.

As the crypto community watches with bated breath, the question remains: when will the Bull Run truly begin? For now, it seems the market is content to tread water, building momentum for what many hope will be a monumental surge in value. Investors are advised to keep a close eye on market indicators and not be swayed by short-term fluctuations.

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