[Analysis] "Bitcoin, On-Chain Indicators Cool Down... Potential for Rebound ↑"

Suehyeon Lee

Summary

It was reported that there is a high potential for Bitcoin price to rebound.
Bitcoin's on-chain indicators have cooled down, indicating that it is ready for a rebound.
The steady influx of short-term holders is linked to the entry of new investors, suggesting a turning point in the market.

Analysis suggests that the price of Bitcoin (BTC) has a high potential to rebound based on several on-chain indicators.

On the 6th (local time), CryptoQuant author Joohyun Ryu reported, "Bitcoin's on-chain indicators have declined to a level where the overheating has been resolved, and it seems ready for a rebound."

Specifically, Bitcoin's MVRV (Market Value to Realized Value Ratio) is at 2.358, aSOPR (Adjusted Spent Output Profit Ratio) is at 1.02, and NUPL (Net Unrealized Profit/Loss) is at 0.58.

The author continued, "Despite the recent market correction, short-term holders are steadily entering the market. The continuous influx of new investors indicates growing expectations for future price increases," and analyzed that "this signals that the market may be reaching a significant turning point."

BTC