Start Of Bear Period? Current Bitcoin Trend Looks Similar To June
Bitcoin on-chain data shows current trend with the short-term holder SOPR looks similar to that in June. This may mean that a bear period similar to then has started. Bitcoin Short-Term Holders Continue To Realize Losses As pointed out by an analyst in a CryptoQuant post, Bitcoin short-term holders have continued to realize profits recently, as suggested by the SOPR. This trend may be similar to the one seen in June. The “Spent Output Profit Ratio,” or SOPR in short, is an indicator that measures the profit ratio of the overall market by looking at the price each coin was sold....
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The fundamentals accompanying the previous Bitcoin bear markets are entirely different from 2022, however, putting the BTC price recovery at risk. Bitcoin (BTC) has been consolidating inside the $18,000–$20,000 price range since mid-June, pausing a strong bear market that began after the price peaked at $69,000 in November 2021.Many analysts have looked at Bitcoin’s sideways trend as a sign of a potential market bottom, drawing comparisons from the cryptocurrency’s previous bear markets that show similar price behaviors preceding sharp bullish reversals.Here are three strikingly similar....
The on-chain indicator SOPR suggests that Bitcoin holders have continued to sell at a loss for a while now. This behavior is similar to what was seen during the May-June 2021 mini-bear period. Bitcoin Investors Have Continued To Dump At A Loss For A Month Now As pointed out by an analyst in a CryptoQuant post, the BTC SOPR shows that holders are currently selling at a loss. The “Spent Output Profit Ratio” (or SOPR in short) is an indicator that tells us whether coins moved on a given day were sold at a profit or a loss. The metric measures so by looking at each coin on the....
Bitcoin NUPL indicator has sharply dropped in value recently, a trend that may signal the start of the early bear market period. After The Crash, Bitcoin NUPL Value Has Declined To 32.5% According to the latest weekly report from Glassnode, the BTC NUPL’s recent trend may suggest that the early bear market is now beginning. The “Net Unrealized Profit and Loss” (or NUPL in short) is an on-chain indicator that measures the difference between the relative unrealized profit and the relative unrealized loss. NUPL = (Market Cap – Realized Cap) / Market Cap In simpler....
This crypto bear market has been long and painful, but here are a few signs that might signal when it could come to an end. The current crypto bear market has induced panic, fear and uncertainty in investors. The dire situation started when the global crypto market capitalization dropped below the $2 trillion mark in January 2022. Since then, the price of Bitcoin (BTC) has decreased by over 70% from its all-time-high of $69,044.77 reached on Nov. 10, 2021. Similarly, the values of other major cryptocurrencies such as Ether (ETH), Solana (SOL), Avalanche (AVAX) and Dogecoin (DOGE) have....
A new report from Glassnode says Bitcoin could potentially be closer to a bottoming range than the early phase of the bear market. Bitcoin Supply In Loss Trend Doesn’t Look Similar To An Early Bear Market In its latest weekly report, on-chain analytics firm Glassnode has discussed how the current bear market structure is looking […]