Is the Bitcoin market top closer than most think? Analysts say…

$60K—$71K price range has hit the third month, and the lower odds of Fed rate cuts seem to be dampening break-out prospects in the near term.

‘Have #Bitcoin tops been governed by the stock market all along? 134 weeks exactly from each SPX/stock market top to the next Bitcoin top. This makes our next target date range the week of July 29th this year, very soon… interesting.’According to the analyst, BTC top always occurs a few weeks after SPX hits a market cycle top. However, the most intriguing finding was that it took roughly 134 weeks to hit the SPX top from the last BTC cycle top.

‘As SPX rises in value, investors look for further down the risk curve for more profit. This is how liquidity shuffles into #BTC and other risk assets’established a warning sign as the Bitcoin network demonstrated stagnancy and possible profit-taking activity from the LTH cohort.The MVRV Z-score removes the short-term noise to gauge BTC’s undervaluation or overvaluation to its ‘fair value’ from a long-term perspective. Historically, BTC topped when the metric reached the pink area .

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