Bitcoin's Bull Run: Glassnode Warns of Peak as DonAlt Sees Higher Prices

Bitcoin's market cycle may be nearing its peak, according to prominent on-chain analytics firm Glassnode. The company recently analyzed the RHODL Ratio, a metric that compares the number of mid-cycle holders to new entrants, and found that it is declining towards levels historically seen in late-stage bull runs. This suggests elevated short-term participation, a dynamic often seen before market cycle tops.

Glassnode noted that while the ratio is not yet at absolute lows, a further decline and subsequent rebound could mark a market turning point. This observation comes as some top analysts remain confident that there is still another leg to come in Bitcoin's bull run. Pseudonymous analyst DonAlt, for instance, believes that Bitcoin is gearing up for much higher prices despite an onslaught of bearish news, such as President Donald Trump restarting trade war talks and considering acquiring other countries.

DonAlt argues that the fact that Bitcoin is still trading above $90,000 despite these headlines makes him believe that the cryptocurrency is poised for further gains. He acknowledges that technical analysis (TA) is slightly leaning bearish as long as Bitcoin is trading below $101,000 or below the weekly mid-range. However, he maintains a neutral stance and believes that it makes sense to be bullish, given the strong uptrend and weak sell-off in the face of bearish news.