CryptoQuant analyst Axel Adler Jr. said on-chain data shows the share of Bitcoin supply held at a profit has climbed from 47% at the end of June to 69%, moving out of a market pressure zone often seen in past cycles. He also pointed to a sharp reversal in the indicator’s 90-day change, which moved from -19% in early August to +41%. According to Adler, that shift ranks among the faster recoveries seen in Bitcoin’s history. The figures were cited in a post referenced by ChainCatcher.
CryptoQuant analyst Axel Adler Jr. said on-chain data shows the share of Bitcoin supply in profit has rebounded from 47% at the end of June to 69%, moving out of a market pressure range commonly seen in past periods.
At the same time, the indicator’s 90-day change flipped from -19% in early August to +41%. Adler said the move marks one of the faster recoveries in Bitcoin’s history.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
