Summary
- There is analysis suggesting that Bitcoin is currently trading in a neutral zone.
- The analyst noted that the Realized Supply Distribution ratio is slightly above the annual average, and that this is similar to the level seen in November last year.
- It was reported that in the same zone last year, the Bitcoin price surged from $74,000 to $107,000.
An analysis has indicated that Bitcoin (BTC) is currently trading in a neutral zone.
On the 30th (local time), CryptoQuant analyst Axel Adler Jr stated on X (formerly Twitter), "The Realized Supply Distribution ratio of Bitcoin is slightly above the annual average," and added, "It is being traded in a neutral range, meaning neither overbought nor oversold."
He further commented, "This is similar to the level seen in November last year, when the price of Bitcoin sharply surged from $74,000 to $107,000."
As of 3:39 PM, on the Binance USDT market, Bitcoin is trading at $108,037, up 0.76% from 24 hours ago.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
