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>>Considering Purchasing Bitcoin at a Low Point? Here's What This Indicator Reveals

Considering Purchasing Bitcoin at a Low Point? Here's What This Indicator Reveals

crypthub

about 22 hours ago

Bitcoin Market Dynamics

Bitcoin's price has remained stagnant below $70,000 amid broader crypto volatility, complicating entry decisions. Joao Wedson highlights that on-chain metrics suggest caution, with the Bitcoin Spent Output Profit Ratio (SOPR) trending downward. This indicates increased losses or reduced profits, though a definitive buy signal requires further metric crossover. Market stabilization is evident but lacks confirmation for a bottom.

On-Chain Metrics Analysis

The SOPR Trend Signal remains below critical thresholds, failing to trigger historical bottom signals. Wedson notes potential multiple buy signals across different cycle stages but emphasizes monitoring Alpha metrics for clarity. Price consolidation and accumulation pockets exist, yet no conclusive reversal is imminent.

Latent Profits and Market Outlook

Darkfost reports Bitcoin's Net Unrealized Profit/Loss (NUPL) at 0.18, signaling dominant losses and bearish conditions. Rapid NUPL decline reflects accelerated corrections, pushing the market toward capitulation. Reduced latent profits increase investor instability, with trend reversals expected to take time. Current data underscores prolonged bear phase dynamics.