Analysis: Divergence Between Bitcoin's Price Action and Realized Profit Indicates Possible Peak in Rebound

04/19 09:50

On April 19, on-chain analyst Murphy noted that after Bitcoin (BTC) reached $78,000, the 24-hour average realized profit the following day was $39.15 million, which is lower compared to when BTC hit $76,000 on April 14. The divergence between 'price action' and 'realized profit' typically indicates that the demand side can no longer sustain the concentration of profit-taking, leading to a decline in upward momentum, similar to the situations observed on January 7 and January 14. Additionally, the reduced trading volume over the weekend may also be a contributing factor. If the divergence between 'price' and 'profit' is primarily due to the demand side's inability to sustain further profit-taking, it can be reasonably concluded that the rebound has peaked. However, if the main reason is the decreased market activity over the weekend, further observation will be necessary in the upcoming trading days.
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Descargo de responsabilidadEl contenido anterior no representa las posiciones de HTX.HTX no ofrece ninguna recomendación de trading.

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