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Author: Admin | 2025-04-28
Bitcoin is facing serious selling pressure, as it has dropped below the $100K mark, raising concerns about a potential deeper correction. Since mid-January, BTC has been trading sideways, fluctuating between all-time highs (ATH) and the $97,750 level, struggling to find a clear direction.Sentiment in the market remains divided. Bulls believe this is a healthy retrace before Bitcoin rallies into price discovery, pushing toward the $110K mark and beyond. Meanwhile, bears argue that BTC has already topped out, and the market is entering a distribution phase that could lead to a longer correction.Key on-chain metrics from CryptoQuant offer a different perspective. Based on the adjusted net unrealized profit/loss (aNUPL) indicators, BTC is currently in a zone of confidence but has not yet entered the euphoria stage. Historically, major bull market tops occur when aNUPL reaches 0.7–0.8, signaling overheated conditions. Currently, BTC sits at 0.4, reflecting moderate optimism and room for further growth if market conditions remain stable.With Bitcoin’s price action at a crossroads, the next few days will be critical in determining whether BTC can reclaim $100K or face deeper consolidation below key levels.Bitcoin Showing Strength Despite VolatilityBitcoin is entering a crucial phase where volatility remains high, but the opportunities for investors could be even bigger. As the market battles between bullish momentum and short-term selling pressure, analysts remain divided on BTC’s next move.Key on-chain metrics shared by Axel Adler provide a clearer perspective. Based on the adjusted net unrealized profit/loss (aNUPL) indicator, Bitcoin is currently in a zone of confidence but has not yet reached the stage of euphoria. This suggests that while BTC is in a bullish phase, there are no immediate signs of overheating—historically seen when aNUPL hits 0.7–0.8.Bitcoin adjusted Net Unrealized PnL | Source: Axel Adler on XAt the moment, the aNUPL value sits around 0.4, which
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