Short-term overheating in BTC subsides, but current bull cycle not over yet, says analyst

In a recent post on his official Telegram channel, CryptoQuant contributor and crypto analyst Crypto Dan pointed out that Bitcoin's (BTC) short-term overheating has subsided and returned to levels akin to those before its rebound in June, without any major corrections. BTC has showcased a sluggish trajectory as there has been capital outflows from spot BTC ETFs in recent times. In the analyst's view, the market may continue to be in a funk, but the bull cycle appears to have not concluded from a broader perspective. Despite signs of overheating demonstrated from some indicators, he reckons the likelihood of BTC truly entering a downturn remains low overall.