Bitcoin Is Signaling A Rare Market Structure Not Seen In Years – Here’s What It Is
Bitcoin is exhibiting a rare market structure not seen since 2020, suggesting a potential bullish shift. Despite recent price drawbacks, BTC is holding above $90,000. Analysts, including Alphractal, note that a mere 4.5% price increase would flip its 1-year percentage change to green, a rare event historically linked to robust bull markets. Failure to do so would align with previous bearish cycles. Meanwhile, on-chain data from CryptoQuant shows aggressive buying pressure, with the Taker Buy Sell Ratio on Bybit reaching extreme levels, indicating strong conviction from large buyers. Additionally, the Bitcoin Sharpe Ratio has broken out from a short-term bottom, signaling a transition into a high-risk zone and hinting at a potential near-term rally.
bitcoinist01/12 21:51