The price performance of Bitcoin has been underwhelming for many elements of 2025, failing to capitalize on the red-hot momentum within the final 30 days of 2024. Despite the market chief’s apparent struggles, traders have nonetheless not misplaced hope on BTC making one closing rally to a brand new all-time excessive.
However, the newest on-chain revelation factors out that this may all be a pipe dream, with the Bitcoin bear market seemingly right here. The query right here is — is it time to maneuver on or is there nonetheless one final upside run on this cycle?
Is It Time To Move On In This Cycle?
In a Quicktake post on the CryptoQuant platform, a crypto analyst with the pseudonym Maartunn put ahead an attention-grabbing prognosis on the present on-chain setup of the Bitcoin value and cycle. This statement relies on the modifications within the Inter-Exchange Flow Pulse (IFP) metric.
The Inter-Exchange Flow Pulse (IFP) is an on-chain metric that tracks BTC flows between spot and by-product exchanges utilizing CryptoQuant’s Bitcoin trade circulate information. Changes on this indicator can assist decide whether or not investor sentiment within the largest crypto market is bullish or bearish.
Typically, when important quantities of BTC are being transferred to by-product exchanges, the indicator indicators a bullish interval. “This suggests that traders are moving coins to open long positions in the derivatives market,” Maartunn added.
On the flip facet, the increased flow of Bitcoin out of by-product exchanges however somewhat into spot exchanges indicators the beginning of a bearish interval. The Quicktake analyst famous that this normally happens when lengthy positions are closed and huge traders (whales) wish to scale back their threat publicity.
Source: CryptoQuant
However, this development mustn’t be sustained if the BTC value is to make one final rally on this cycle. The final sustained IFP bearish interval coincided with the autumn of Bitcoin value from above $60,000 to beneath $20,000 in 2022.
Bitcoin Price At A Glance
As of this writing, BTC is valued at round $97,500, reflecting no important value change within the final 24 hours. Similarly, the premier cryptocurrency barely moved previously week, recording a mere 1.2% acquire within the final seven-day interval.
The value of BTC on the day by day timeframe | Source: BTCUSDT chart on TradingView
Featured picture from iStock, chart from TradingView
