CryptoQuant Warns Bitcoin Price Surge May Delay Price Correction

CryptoQuant, an on-chain analytics firm, has observed that Bitcoin's recent price increase may lead to further profit-taking in the market.

Data shows that Bitcoin has risen over 20% since early April, but CryptoQuant defines this rally as a 'bear market rebound.' This suggests that despite the current upward trend, the market is not yet out of the bearish phase.

The short-term holder profitability indicator remains above 1, indicating a steady profit realization phase since mid-April. Although selling pressure is rising, a price correction may still take time to emerge.