According to Glassnode's lead on-chain analyst James Check, Bitcoin may experience a period of volatility within the price range of $40,000 and $22,000.
On-chain metrics suggest that the flagship cryptocurrency could see significant price movements in the short term, with traders on both sides showing exhaustion after recent price action.
Realized Profit and Loss metrics provide insight into the sentiment, capital flows, and behavior patterns of BTC holders, indicating that Bitcoin price could be setting up for a prolonged reaccumulation phase.
Check suggests that the current sell-side risk ratio approaching an all-time low indicates that investors are reluctant to spend coins in profit or loss within the current price range, suggesting big moves are coming.
All Comments