Summary
- Despite Bitcoin (BTC)’s rally, it was reported that the possibility of investors selling is low.
- CryptoQuant contributor Axel Adler Jr. analyzed that Bitcoin’s actual profit and loss ratio remains at an average level, indicating the market is not overheated.
- The contributor stated that the risk of a sharp trend reversal in the short term is considerably low.
Although Bitcoin (BTC) continues its rally, analysts report that the probability of investors selling remains low.
On the 12th (Korean time), Axel Adler Jr., a contributor to CryptoQuant, stated on X (formerly known as Twitter), "Even though Bitcoin has reached an all-time high, the actual profit and loss ratio remains at an average level," adding, "This indicates that the market is not overheated."
He continued, "Accordingly, the risk of a sharp trend reversal in the short term is considerably low."
Meanwhile, as of 2:15 PM that day, Bitcoin was down 2.78% from the previous day, trading at $118,850.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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