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 upward wave or a long period of volatility and consolidation. The future trend depends on a set of technical indicators and the historical momentum of prices.

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 Net Unrealized Profit and Loss (NUPL) and Market Value to Realized Value (MVRV).