Bitcoin 'Terminal Price' hints next BTC all-time high is at least $110K

cointelegraph.com:

Bitcoin (BTC) may next be a “sell” at at least $110,000 as its new bull cycle plays out, a classic on-chain indicator suggests.

Data from on-chain analytics platform Look Into Bitcoin shows Bitcoin’s Terminal Price hinting at a possible six-figure BTC price top.

As BTC price action circles its highest levels in 18 months, forecasters are already considering how high it could go in the coming months and even years.

After the next block subsidy halving in April 2024, targets include $130,000, with late 2025 a popular deadline for the next cycle top.

Analyzing Terminal Price, Look Into Bitcoin creator Philip Swift described its value as a “simple” method of estimating long-term BTC price peaks.

Terminal Price is calculated from Bitcoin’s so-called Transferred Price — a value derived by dividing Coin Days Destroyed (CDD) by the existing supply.

CDD is a popular metric which measures how many dormant days are reset each time an amount of BTC moves on-chain. It is useful as a gauge of hodler intent and activity.

Created by Checkmate, lead on-chain analyst at data firm Glassnode, Terminal Price comes into play at the top of each BTC price cycle.

Not every all-time high reaches Terminal Price, but BTC/USD did hit the trendline during its 2017 all-time and initial peak in April 2021. The current all-time high of $69,000, seen in November that year, fell short.

Swift thus suggested that selling “near” Terminal Price would be a suitable policy. Its bear market counterpart, Balanced Price, likewise signals useful market bottoms.

Buy near Balanced Price, sell near Terminal Price.

Could it be that simple?#bitcoin cycles. pic.twitter.com/llHytNVuxr

As Terminal Price increases with time, $110,000 may ultimately end up a conservative target should