🚀 Bitcoin: To take off, first check if the 'fuel' is enough! Glassnode's latest in-depth analysis
Bitcoin is still deeply trapped in a downward trend, and Glassnode's analysis points out that the core issue is: severely insufficient liquidity.
Key points summary:
🔹 Liquidity is key: To achieve a real trend reversal, the market must welcome new capital injection.
🔹 Profit and loss ratio indicator: Historical data shows that only when the 90-day moving average profit and loss ratio remains above 5 can Bitcoin experience sustained growth. Currently, this indicator is only 2.
🔹 Supply pressure: About 22% of circulating BTC is in a loss state, similar to the adjustment periods of 2018 and 2022. If key support levels cannot be maintained, selling pressure may further release.
There is also good news:
According to CryptoQuant's data, the amount of BTC flowing into Binance remains at historically low levels. This means that large holders are more inclined to HODL (hold long-term) rather than sell.
Summary: There is a risk of short-term pullback, but the downside space is limited. The real 'To the Moon' is still awaiting a full recovery of liquidity!📈
#比特币 #BTC #Glassnode #加密货币分析 #BinanceSquare
