As Bitcoin continues to rise, the market focuses on its peak price in this cycle. Multiple on-chain valuation models show: the top market cap model predicts over $500,000 but is considered unrealistic; the Delta peak model estimates $80,000 to $100,000; the terminal price model predicts $221,000 to $250,000 as the most credible. The current MVRV ratio is 2.34, and history shows that reaching 4 marks the peak of the cycle. Combining this with a 130-day cycle duration, a conservative estimate of the potential price peak could reach $273,000. Analysts point out that despite the uncertainty in predictions, based on historical patterns and on-chain data, this target is possible, and they advise investors to flexibly adjust their strategies to take profits in a timely manner.