Is it a bull trap or a bull run? The January Bitcoin rally is splitting consensus regarding whether Bitcoin will continue higher. What does the future hold?
," researchers eyed key lines in the sand approaching for profitability versus supply.
Bitcoin's adjusted spent output profit ratio metric is about to cross the 1 line from below, marking a potential key shift. Should it pass that line, hodlers will have an aggregate incentive to sell while in profit, possibly sparking a supply glut and sending the market lower once more."With an explosive 23.3% rally to start off the year, a wide cross-section of Bitcoin investors have seen their net holdings return to a profit.
"With aSOPR and the Realized P/L Ratio testing a break-even value of 1.0, the test as to whether the market can hold onto these gains becomes the next big question."The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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