According to PANews, CryptoQuant analyst Axel Adler Jr has highlighted that Bitcoin's bull market is entering its later stages, with a noticeable decline in investor risk appetite. Data indicates that related metrics surpassed 1.9 in March and December 2024, but have recently formed lower peaks, as holders actively sell off their assets, exerting pressure on the market.
While investors continue to profit, the marginal gains from each price increase are gradually diminishing. In light of the U.S. Federal Reserve's anticipated two interest rate cuts this year, Adler Jr predicts two more rebounds within this cycle. However, he warns that selling pressure may eventually outweigh demand, potentially leading the market into a correction phase.