On-Chain Metrics Suggest BTC Capitulation Is Imminent: Analyst
- There has been a slight rally in BTC’s exchange reserve in the past two weeks.
- BTC’s past performance shows that whenever this happens, a price fall is imminent.
- A key on-chain metric shows that the BTC market sentiment has changed from capitulation to belief.
According to crypto analyst Ali Martinez, Bitcoin (BTC) might experience a significant decline in value following the recent surge in bullish sentiment.
From capitulation to belief, the mood in the #Bitcoin market has seen a full spectrum of changes.
— Ali (@ali_charts) December 21, 2023
However, it's worth noting that historically, every time sentiment has shifted from capitulation to belief, $BTC has experienced a retracement. Could history repeat itself? pic.twitter.com/NvfqSWjOVo
Martinez assessed the historical performance of BTC’s Long Term Holder Net Unrealized Profit/Loss (LTH-NUPL) and how the metric movement impacts the coin’s price.
The NUPL metric assesses the profitability of coin holders. It measures the difference between the current market value of all coins in existence and the value at which they were last moved on the blockchain.
For LTH-NUPL, it shows the average pr…
The post On-Chain Metrics Suggest BTC Capitulation Is Imminent: Analyst appeared first on Coin Edition.
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On-Chain Metrics Suggest BTC Capitulation Is Imminent: Analyst
- There has been a slight rally in BTC’s exchange reserve in the past two weeks.
- BTC’s past performance shows that whenever this happens, a price fall is imminent.
- A key on-chain metric shows that the BTC market sentiment has changed from capitulation to belief.
According to crypto analyst Ali Martinez, Bitcoin (BTC) might experience a significant decline in value following the recent surge in bullish sentiment.
From capitulation to belief, the mood in the #Bitcoin market has seen a full spectrum of changes.
— Ali (@ali_charts) December 21, 2023
However, it's worth noting that historically, every time sentiment has shifted from capitulation to belief, $BTC has experienced a retracement. Could history repeat itself? pic.twitter.com/NvfqSWjOVo
Martinez assessed the historical performance of BTC’s Long Term Holder Net Unrealized Profit/Loss (LTH-NUPL) and how the metric movement impacts the coin’s price.
The NUPL metric assesses the profitability of coin holders. It measures the difference between the current market value of all coins in existence and the value at which they were last moved on the blockchain.
For LTH-NUPL, it shows the average pr…
The post On-Chain Metrics Suggest BTC Capitulation Is Imminent: Analyst appeared first on Coin Edition.
Read More