- Bitcoin’s NUPL trend suggests the bull market could extend well into 2025.
- Whale activity indicates reduced selling pressure and sustained accumulation.
- $300K remains a speculative target, dependent on macroeconomic triggers.
Bitcoin’s market behavior continues to follow the path laid out by its historical bull runs, with the NUPL (Net Unrealized Profit/Loss) indicator suggesting that the current rally is far from over.
According to Bitcoinsensus, we recall earlier bull cycles where this gauge registered several peaks and stayed in the deep-blue “euphoria” area for several months prior to the last peak.
This is still not realized in its current cycle and thus implies the market still has months of rising action to come.
Previously, the extended action was typical of the distribution phase, where large market participants such as whales spend time offloading holdings at higher prices to prevent market panic.
Present NUPL analysis reveals Bitcoin might still be in its middle phase of the current cycle. In this sense, the final peak could be way into the future, and prices such as $300,000 per BTC are not necessarily off the table.
Also Read: Bitcoin’s Critical $109,000 Support: Will It Hold or Face a Major Collapse?
Institutional Pressure Eases, Accumulation Builds
New data from CryptoQuant supports the opinion that the market’s underlying trend has shifted firmly bullish. The analysis comments that institutional selling pressure from the United States has considerably eased ever since the month of April.
It is backed by a notable fall in selling activity, as indicated by red arrows, and replaced with continuous buying demand, as indicated in the yellow box area.
This sell-side relief has been crucial in Bitcoin maintaining its consolidation phase, as short-term overheated levels are being adjusted.
The current trend is also consistent with the mid-cycle accumulation phases of the earlier cycles. Additional price appreciation could occur if the current trend continues as market players take positions for the potential parabolic breakout.
Bitcoin Needs Macro Boost to Hit $300K Target
While the technical and on-chain indicators provide validation of continued growth, reaching extreme levels of $300K will necessitate more than steady accumulation.
It would require high-scale bullish catalysts of the sort of new Federal Reserve quantitative easing or substantial regulatory clarity to bring about such a rally, according to Bitcoinsensus.
Without those external stimuli, Bitcoin can still plot higher trends but potentially miss out on speculation tops. However, if the broader macro fundamentals come into place, i.e., decreasing interest rates, contained price inflation, or institutionally sanctioned green lights, then the probabilities of Bitcoin breaking out into the speculative $300K zone shoot up higher.
Also Read: Bitcoin Halving History Signals Powerful October 2025 Surge: What’s Different This Time?