CryptoQuant: Analyst Optimism on Bitcoin Stronger Than at Start of 2023 Bull Run
- —BTC consensus index rose 67 points in 103 days versus 36 in the 2022–2023 cycle
- —84% of 164 analysts are bullish on BTC, up from 37% in early July
- —ETH index climbed from 0.1 to 58.3, with 88% of analysts bullish
- —SOL index stands at 72, with 31 of 34 analysts (91%) bullish
Why it matters: Analyst expectations are running ahead of price: BTC is up 33% versus 65% in the prior cycle, leaving room for a correction if demand fails to catch up.
Source: Blockmedia