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Jakarta, Pintu News – According to CryptoQuant contributor PelinayPA, there is a 55% chance that the Bitcoin (BTC) market peak in this market cycle has not yet been reached. Although the price of Bitcoin (BTC) has fallen more than 13% from the new record high of $126,199 recorded earlier this month, recent analysis suggests that there is still room for optimism. PelinayPA uses recent on-chain flow data to support this claim.

PelinayPA notes that although the price of Bitcoin (BTC) has dropped from over $126,000 to around $109,000 in the second half of 2025, there has been a notable increase in the 0-1 daily inflow of Bitcoin (BTC) to exchanges.
This rise in inflows usually has two implications: short-term traders take profits and there is a temporary liquidity repositioning phase as traders move their holdings to exchanges, anticipating price volatility.
Read More: Bitcoin (BTC) Price Prediction: Influenced by the Fed’s Interest Rate Decision on October 29, 2025
According to the analysis, Bitcoin (BTC) held for more than six months is generally inactive, suggesting that long-term holders are unlikely to sell despite the recent market crash. This signals market confidence among long-term holders, minimizing the possibility of massive selling in the near future.
PelinayPA adds that this kind of behavior usually occurs in the middle or mature stages of a bull cycle, where any price drop is seen as an opportunity to accumulate rather than as a trend reversal.
In the short term, Bitcoin (BTC) may revisit the $102,000 region as short-term traders continue to take profits. However, as this selling pressure mainly comes from new holders, it is unlikely to disrupt the broader bullish structure.
This dip could offer an attractive entry opportunity. PelinayPA emphasizes that the lack of selling activity among Bitcoin (BTC) holders in the 6-month to 10-year time span suggests that there is a 55% chance that a bull market top has yet to form.

While it’s possible that the peak of the Bitcoin (BTC) bull market hasn’t been reached, this doesn’t mean that the top cryptocurrency won’t experience further temporary declines. If the selling continues, Bitcoin (BTC) could once again test the $102,000 support level. However, by entering the ‘distrust phase’, Bitcoin (BTC) might take on the bears suddenly with a sharp price spike.
Read More: Ethereum Price Prediction: Here’s the Long-Term & Short-Term Bullish Potential
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
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