The price of Bitcoin has jumped more than 260% since October 2023, and many wonder if there is still a higher room. In a video, Crypto expert Gerhard-Discare at Bitcoin, with more than 136,000 subscribers, broke what was happening behind the scenes, using on-chain data and market signals to help answer that exact question.
One of the key things Gerhard teaches is the “risk of seller's risk.” When this number is high, it often means that we are close to the top, investors earn, and can start cashing out. When it is low, which usually indicates a purchase opportunity. So far, that ratio is still low, and momentum is selective.
Most of the Bitcoin supply is still held by long -term investors. These are people who tend to buy when prices go down and sell at large rallies. According to the video -shared charts, there were several sellers in April 2024 around the $ 70k mark and again near $ 100k. But just in case, there are still not many sellers. That suggests long -term holders who still see value at current levels.
Stablecoin dominance and sentiment on the market
Gerhard also looks at Stablecoins to measure how investors feel. The total market cap of Stablecoins has risen to $ 240 billion, and the dominance of Stablecoin, showing how much the market is sitting in cash, is declining. That usually means people are back in riskier assets like Bitcoin.
Although the produce in the defi is now low (2.5% to 2.9% for handling stablecoins), the capital continues to flow to the crypto. Why? Not for yield, but because investors expect prices to continue to rise. Since the market filed bullish last October, the Stablecoin market cap was up to 85%, showing that there was still a lot of interests.
What is upside down from here?
Gerhard believes there is still a room for the price of Bitcoin to climb. He points to previous cycles and current market conditions to suggest an inverted target of $ 130,000 to $ 150,000. Although the path upward is never smooth, and short-term dips of 20% to 30% are common, long-term setup remains intact.
He also emphasizes that attention plays a key role. As more flooding in media ranges, retail interests grow and prices often push prices to new highs. However, this phase eventually cools, often followed by corrections driven by short -term holders.
Moreover, Ethereum begins to show signs of life. Its dominance is now back to where it was in late 2019, which some see as a signal that the ETH price may have found the bottom of it. However, Bitcoin's dominance increases, and history tells us that the altcoins usually do not rally until the dominance of Bitcoin begins to peak, often around 70%. So today, altcoin investors may want to remain patient.
Tracking the insider's wallet and market influence
Another big part of Gerhard's breakdown was the purse. Some of the biggest returns to crypto come from the prevention of small cap tokens before they explode. One way to do that is by watching what major influencers and insider buy.
Tokens such as Kek and Virtual get big after being selected in advance of popular names like Brian Jung and the cryptobier team. By using blockchain tools, regular investors can now monitor the movements of this purse in real-time and enter earlier in strong plays.
Also read: Pudgy penguins hit $ 0.10? Experts broke Pengu's potential price
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