Bitcoin traded near $87,200 on Wednesday after President Donald Trump said US officials had held a very good meeting with Iranian representatives. BTC has risen about 14% in seven days after recovering from around $75,600 on Sept. 15, bringing its market capitalization to about $1.75 trillion. CryptoQuant founder Ki Young Ju said the current bull cycle appears more mature and could produce a three- to fivefold gain rather than another 10x rally, followed by a milder bear market. He cited Bitcoin's MVRV ratio, a measure comparing market value with holders' average cost basis, remaining above one throughout the cycle, alongside rising realized capitalization and reduced selling by older whales. Spot Bitcoin ETFs attracted $433 million on Sept. 18, while futures open interest rose more than 1% to $61.40 billion. The market is also tracking developments in Iran-US diplomacy, Federal Reserve speeches and upcoming UN meetings.