Bitcoin Enters Early Stage of New Bull Cycle, Says CryptoQuant

CryptoQuant says Bitcoin has entered the early stage of a new bull cycle, based on on-chain indicators such as falling exchange reserves and continued accumulation by long-term holders. Their analysis implies supply is tightening while demand fundamentals are strengthening, creating conditions conducive to upward price pressure. For Bitcoin this suggests a potential multi-month appreciation phase, albeit one that typically comes with elevated volatility and no guaranteed outcome.