Research: On-chain indicators continue to suggest that the Bitcoin market has bottomed

01/19 21:14

According to a research report, on-chain research suggests that the Bitcoin market has bottomed. However, macro factors that may not have been present in the previous cycle are still in play and may be affecting the current cycle. The Bitcoin supply profit and loss band shows the amount of circulating supply that is in profit or loss based on the token price being above or below the current price at the time of the last move. The bottom of the market cycle coincides with the intersection of the Profit Supply (SP) and Supply Loss (SL) lines, which most recently occurred around Q4 2022. The SP band has now risen sharply, diverging from the SL band, suggesting that if the pattern holds, prices could see a macro upswing.
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