According to @glassnode, the recent all-time high marked the third euphoric phase of this cycle. Source: Glassnode, X, Sep 4, 2025. @glassnode reports that price has retraced into the 0.85-0.95 quantile cost basis band. Source: Glassnode, X, Sep 4, 2025. @glassnode adds that this zone often precedes sideways consolidation before the next major trend, implying range-bound conditions where traders can monitor breakouts beyond the 0.85-0.95 band to confirm direction. Source: Glassnode, X, Sep 4, 2025.

According to Michaël van de Poppe (@CryptoMichNL), current on-chain data indicates that retail investors are selling while institutional investors are actively buying Bitcoin. This dynamic is defining the present market as the 'Institutional Cycle,' suggesting that institutions are setting the tone for price movements. For traders, following institutional activity is critical, as history shows institutions typically drive significant market trends and outperform retail participants. This shift highlights a potential accumulation phase that could precede a major Bitcoin price rally, and traders should monitor institutional inflows for trading strategies. Source: Michaël van de Poppe on Twitter.

According to Michaël van de Poppe (@CryptoMichNL), the current crypto market cycle is characterized by unprecedented liquidity inflows and rapid adoption rates, reminiscent of the Dot-com bubble era. This trend is driving significant bullish momentum, making it a critical period for traders to identify high-potential assets and capitalize on volatility. Source: Michaël van de Poppe Twitter, May 11, 2025.