News Formal

Bitcoin [BTC]: As market hits ‘transition phase,’ here are the things to look out for

  • 📰 CryptoAmb
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 68%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

On-chain data revealed that BTC’s ongoing performance is hinting at an imminent bear market end While many BTC holders remain in profit, the level of profitability has started to decline In its latest report, on-chain analytics company Glassnode analyzed Bitcoin’s [BTC] on-chain performance. In doing so, it observed that the prevailing price movements resemble previous […]

on-chain performance. In doing so, it observed that the prevailing price movements resemble previous bear market bottoms.

Glassnode assessed BTC’s Net Unrealized Profit/Loss metric and noted that “the current state of the market can be reasonably described as resembling a Transitional Phase,” which is common “in the later stages of a bear market.” According to Glassnode, the weekly average of NUPL has changed from a state of net unrealized loss to a positive condition since mid-January. This is a sign that the typical BTC holder now holds a net unrealized profit of approximately 15% of the market cap, resembling transition phases in previous bear markets.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 22. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto market can witness another crash if Bitcoin [BTC] drops below..If BTC’s price goes below the $22,300 range, it can drop further down. Negative sentiments prevailed in the market but a few metrics had a bullish bias. Bitcoin [BTC] has been disappointing investors for quite a few days with its sideways price action. CoinMarketCap’s data revealed that BTC failed to register gains last week as […]
Source: CryptoAmb - 🏆 22. / 68 Read more »