The famous digital currency Bitcoin (BTC) is undergoing a critical phase in 2025, as on-chain data analysis indicates the possibility that the cryptocurrency may either experience a strong bullish wave or a prolonged period of volatility and consolidation. The future direction depends on a set of technical indicators and historical price momentum.

A analyst from Crypto Quant presents potential scenarios for Bitcoin's movement.

Three

In a new report, analyst Axel Adler Jr. from the Crypto Quant platform identified three main potential scenarios for Bitcoin's trajectory, based on key momentum ratios such as the Net Unrealized Profit/Loss (NUPL) and the Market Value to Realized Value (MVRV) ratio.