Bitcoin Approaching the Summit: IBCI's Critical Level is Alarming the Markets! - Coin Bulletin

According to the analytical platform CryptoQuant, the Bitcoin Exchange Indicators Index (IBCI) reached the distribution zone for the first time in 8 months.

This situation is notable as it may indicate that Bitcoin is approaching its peak in the market cycle. However, a definite confirmation has not yet been made.

IBCI consists of 7 different on-chain indicators such as Puell Multiple, MVRV, NUPL, and SOPR. Reaching the 100% level of this indicator means that all of these indicators have entered their historically determined distribution range.

Historically, when IBCI reaches this level, markets usually enter a correction process and turn into a bear market. However, at the current time, IBCI has not yet reached its peak and it is believed that there may be a little more room for price increase.

As long as IBCI is above 50%, the bull market continues

The fact that IBCI remains above 50% indicates that the market is still in an uptrend and demand remains strong. This suggests that the price of Bitcoin could reach a new all-time high. However, possible corrections in the market are also mentioned.

It is particularly important to observe the compatibility with other on-chain indicators. Currently, the NUPL indicator is very close to the upper zone, while the Puell Multiple is following a trajectory close to the lower zone. This situation indicates that complex balances in the market continue and further observations are needed for a clear direction to emerge.

While there is still uncertainty about whether the market is approaching its peak or if there is still room for growth, investors should closely monitor IBCI and other indicators.