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Bearish pressure still lingers within the crypto sector following recent unfavorable macroeconomic conditions, and Bitcoin has fallen sharply, with its price now hovering near the $104,000 level. The bearish tension may be growing, but key on-chain metrics show that the current bull market phase is likely to continue.
Bullish Outlook For Bitcoin Endures
Bitcoin’s strong upward move, triggering a bull market phase, has stalled after hitting a new all-time high. However, the pullback does not imply that the ongoing bull market has ended, as on-chain signals point to sustained strength.
In a recent research shared on X, Alphractal, an advanced on-chain data analytics platform, has outlined a key trend that hints at a potential for a fresh rally. “Bitcoin On-Chain Analysis Still Allows Room for a New Rally,” the platform stated.
Such a trend, which is believed to be a trustworthy indicator of market maturity, indicates that Bitcoin has more room to rise and might lead to a new surge in the coming weeks.
Alphractal’s research is solely centered on the Bitcoin On-Chain CapFlow Sentiment Index. Specifically, the key metric uses a mix of momentum and stochastic indicators with several on-chain oscillators to assess BTC’s realized capitalization.
So far, the index has shown promise in pinpointing areas where the momentum of coin flow on the network begins to lose strength, indicating distribution by smart hands. According to the on-chain platform, the same is true during periods of accumulation, which frequently align with local bottoms.
BTC bull market remains strong | Source: Alphractal on X
Presently, Alphractal revealed the sentiment index is hinting at a new distribution phase as it continues to grow. When this stage is achieved, the current bull cycle is expected to come to an end, and Bitcoin will be at its most extreme level.
The platform has recollected its take on October 2025 being a critical month for Bitcoin, where fractal analysis, on-chain data, and technical metrics all suggest a possible market exit opportunity. This implies that October appears to be a good contender for the cycle peak, even if Bitcoin rallies or plummets in the days ahead.
Alphractal claims that this approach is still relevant until the analysis offers a different perspective. However, in the meantime, BTC’s bull market is still strong, and a new rally could still happen.
A Major Surge To Unprecedented Levels
While on-chain data signals the continuation of the bull market, crypto analysts like Trader Tardigrade have predicted a massive surge to unprecedented levels. Trader Tardigrade’s forecast is based on a crucial price trend known as the Power of 3.
After examining the 1-week chart, the seasoned expert revealed that BTC has entered a distribution phase that would trigger a notable upswing. If the ongoing distribution phase has a 5-wave structure, wave 1 and wave may be completed. According to the expert, the most aggressive wave is coming, and BTC may run to the top in wave 5, which is positioned at the $200,000 mark.
BTC trading at $105,765 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com
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