Bitcoin Enters ‘Most Frustrating Phase,’ CryptoQuant Says: A Look At What’s To Come

Bitcoin (BTC) is currently navigating a trading range between $60,000 and $73,000, entering what analytics platform CryptoQuant describes as “the most frustrating phase in the cycle.” 

According to a recent analysis by CryptoQuant contributor MorenoDV, Bitcoin finds itself in a period characterized by heightened uncertainty, with market signals indicating more hesitation than firm conviction.

After the most recent sell-off, Apparent Demand initially showed signs of recovery, suggesting that opportunistic buyers were stepping in to capitalize on the recent price drop. However, this uptick was short-lived, quickly retreating to negative territory. 

The CryptoQuant Bull Market Cycle Indicator, as seen in the chart below, further reinforces this sentiment, as it currently signals a phase typically associated with bear market consolidation. 

Moreover, the analyst noted that the behavioral dynamics at play can influence the cost bases of various market cohorts. He asserts that as short-term holders realize losses or transition to longer-term holders, the realized prices of Bitcoin can decline. 

In the context of geopolitical events, Bitcoin has demonstrated resilience, outperforming gold and traditional stocks during the recent US-Israeli attack on Iran. 

Crypto’s 24/7 structure is increasingly an edge for the asset class. When the Iran conflict escalated over the weekend, crypto-native markets were the only venue open for global risk trading, a structural advantage that traditional markets cannot replicate.

Additionally, Bitcoin has seen a positive uptick of about 4% following President Trump’s comments suggesting that the war may be winding down. Trump stated, “I think the war is very complete, pretty much,” adding that Iran has “nothing left in a military sense.”

Selby emphasized that a sustained close above this threshold with significant volume could shift the narrative from a mere short squeeze to a genuine momentum recovery.

Featured image from OpenArt, chart from TradingView.com