Crypto analytics firm CryptoQuant has released a new report offering insights into Bitcoin’s potential price movements over the next six months. Based on on-chain data, the report suggests that we are currently witnessing an initial rally phase for Bitcoin. 🤔 The analysis predicts three possible scenarios based on this momentum: 📈 Optimistic scenario: If the on-chain ratio surpasses and sustains above the 1.0 level, indicators like NUPL and MVRV would signal a new bullish trend, potentially pushing Bitcoin to the $150,000 – $175,000 range. This aligns with past market cycles of 2017 and 2021. 📊 Basic scenario: If the ratio remains between 0.8 and 1.0, the market is expected to experience a broad consolidation phase within the $90,000 – $110,000 range. In this scenario, investors may remain in their current positions but exercise caution about new investments. 📉 Pessimistic scenario: A dip in the ratio to 0.75 levels could trigger profit-taking from short-term investors. This could lead to a price drop to the $70,000 – $85,000 range. CryptoQuant emphasizes that this scenario is less likely due to recent corrections.