Bitcoin News Today: Bitcoin's Uptrend May Last 10 More Days Swissblock Says

Bitcoin (BTC) is showing signs of potential further gains, according to insights from market intelligence firm Swissblock. The firm's analysis suggests that key metrics indicate the flagship crypto asset has not yet reached its peak, implying there is more upside potential.

Swissblock's "Optimal Signal" metric, which tracks the duration of prior explosive Bitcoin moves, suggests that the current uptrend could last for more than 10 additional days. Historically, major Bitcoin expansions have lasted between 15 to 30 days, and the current cycle appears to be incomplete, with capital beginning to rotate into Ethereum (ETH).

Another key indicator is the Short Term Holder (STH) Relative Unrealized Profit metric from crypto analytics firm Glassnode. This metric measures the total profit of all coins in existence whose price at realization time was lower than the current price, normalized by the market cap. According to Swissblock, this metric remains well below the threshold reached during prior cycle tops in January and April 2024, indicating that market participants are not exhibiting signs of excessive profit-taking or euphoria.

Veteran on-chain analyst Willy Woo's volume-weighted average price (VWAP) indicator and his proprietary "Speculation Index" also suggest that Bitcoin has yet to reach a cycle peak. VWAP is the average price of an asset over a period of time, weighted for trading volume. Both indicators confirm that the market is not yet overheated, suggesting ongoing support for higher prices.

According to Swissblock, the current market structure suggests that Bitcoin has not yet topped, and there is potential for further upside. The firm's analysis is based on liquidity timing, behavioral signals, and capital rotation, all of which point to continued growth in the near term. Bitcoin is currently trading at $119,042.