Cryptoquant analyst: The cryptocurrency market is still in a bull market, and BTC may rise further in early June

ChainCatcher news, Cryptoquant analyst Crypto Dan posted that the cryptocurrency market is still in a bull market, and the Bitcoin price has not yet reached its peak, predicting that it can rise further. In past bull markets, the MVRV peaks were 4.83 and 3.97, while currently it has only reached 2.78, indicating that it has not yet entered the overvaluation zone, and further increases are expected. After Bitcoin entered the overheating phase in March 2024, it experienced more than two months of consolidation and adjustment, and it is likely to see further increases in early June.