Source: Cointelegraph.com NewsKey Takeaways:<\/p>\n
Bitcoin\u2019s year-over-year return and realized price metric signal strong long-term support from holders and suggest that BTC is currently undervalued.
\n Standard Chartered estimates a Bitcoin price target in the $110,000\u2013$120,000 zone by Q2 2025.
\nPositive funding rates point to a potential long squeeze to $90,500.<\/p>\n
Bitcoin\u2019s (BTC) weekly close near $94,000 delivered an impressive year-over-year total return of 53.61%. Since the last halving in 2024, the market has shifted from the early 2024 euphoric phase to a “mature bull trend” based on onchain growth, rather than speculative frenzy.\u00a0 Source: Cointelegraph.com NewsKey Takeaways: Bitcoin\u2019s year-over-year return and realized price metric signal strong long-term support from holders and suggest that BTC is currently undervalued. Standard Chartered estimates a Bitcoin price… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128144"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128144"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128144\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128144"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBitcoin fundamentals triumph over fear and speculation
\nBitcoin researcher Axel Adler Jr. pointed out that the year-on-year (YoY) realized price, a measure of the average price at which BTC was last moved, has surged 61.82%, outperforming the YoY market value to realized value\u2019s (MVRV) decline of 8.98%. This indicates long-term holders are raising the base price faster than speculative price increases, a healthy signal for the cycle.\u00a0
\nThe negative MVRV suggests that Bitcoin is trading below its fundamental value compared to a year ago, a pattern that precedes significant rallies. This compression of value leaves room for further upside, with analysts eyeing new highs above $110,000 if demand accelerates.
\nBitcoin valuation and price comparison chart. Source: Axel Adler Jr. Similarly, Bitcoin\u2019s realized price by cohort shows a cooling speculative premium, as one-month holders\u2019 cost basis is 5% below the six-month cohort. The current market resembles past accumulation phases, leaving only five to six weeks until the average 180-day point when momentum often accelerates.
\nBitcoin realized price of different cohorts. Source: Axel Adler Jr. This bullish timeline parallels Standard Chartered\u2019s head of digital assets research, Geoffrey Kendrick’s prediction that Bitcoin will hit a new all-time high of $120,000 in Q2 2025, driven by strategic reallocation from US assets. Kendrick noted that a high US Treasury term premium, correlating with BTC\u2019s price, and time-of-day trading patterns indicate US investors are seeking non-US assets since President Donald Trump\u2019s trade war began on April 2.
\nBitcoin price movement between time zones. Source: X.comRelated: Bitcoin could hit $210K in 2025, says Presto research head
\nBitcoin futures market hints at \u201clong squeeze\u201d below $91,000
\nBitcoin\u2019s funding rate has turned positive, signaling a dominance of long positions as traders bet on price rises above $90,000. Between April 24 and April 25, Bitcoin\u2019s funding rate briefly turned negative, sparking discussions of a potential long squeeze that could push prices toward $97,000. However, the market dynamics shifted with the funding rate flipping positive, which could lead to a long squeeze.\u00a0
\nBitcoin funding rate. Source: CryptoQuantA Long squeeze is a market event where a sudden price drop forces over-leveraged long traders to sell, amplifying the decline through mass liquidations.
\nBitcoin prices have dropped 1.58% after the New York market session opened on April 28, and BTC might drop as low as $90,500 over the next few days.
\nAs illustrated in the chart, bullish momentum is beginning to fade, and BTC could re-test the fair-value gap (FVG) between $90,500 and 88,750 on the 4-hour chart.
\nThe price also formed a bearish divergence with the relative strength index (RSI) after the price failed to hold a position above $95,000.
\nBitcoin 4-hour chart. Source: Cointelegraph\/TradingViewThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"