BTC likely to have reached cycle peak

"BTC has likely already reached the top of its cycle," Cointelegraph reports, citing multiple analysts. Charles Edwards, founder of crypto hedge fund Capriole Investments, explained that "Bitcoin's long term holder (LTH) inflation rate has been steadily increasing over the past two years and is now nearing 1.9, which is the level you would expect to see near the top of a cycle." "Bitcoin's dormant Z-score has also risen sharply over the past 90 days. A high dormant Z-score indicates that the price is overvalued without volume support. This also suggests that the current Bitcoin price may have reached a cyclical top and could turn bearish."