This article interprets the latest Bitcoin on-chain data, analyzing investor sentiment and market structure. The data shows that although investors are in a state of panic, they are still profitable overall. Indicators such as MVRV and NUPL also reveal the current stage of the market, providing a reference for investors.
Bitcoin market on-chain data continues to provide us with important clues about investor sentiment and market structure. While recent data suggests cautious market sentiment, some indicators show that investors are generally still in profit.
The Fear and Greed Index shows that Bitcoin investors are currently in a highly fearful environment. The index data shows that the market is in the "Extreme Fear" zone, with a score of 15.
Bitcoin price is currently around $71,400. A key reference point in the on-chain data—the realized price—is about $54,400. The fact that the current Bitcoin price remains above this level indicates that the average cost of investors is higher than the market average, and the overall market is still profitable.
Bitcoin realized price data.
Related News: A whale finally sold its altcoins at a loss after holding them for eight months, unable to bear the burden
In the past 24 hours, short positions accounted for the majority of total liquidations. Approximately $53 million in short positions were liquidated, while long liquidations remained around $11 million.
Liquidation data chart for the entire cryptocurrency market over the past week.
Another important on-chain indicator is the MVRV (Market Value to Realized Value) ratio, which is currently 1.31. This ratio measures the level of Bitcoin's market capitalization relative to the average cost of investors. Historically, an MVRV ratio above 3.7 indicates that the market is overvalued and a macro peak may be approaching; while a ratio below 1 is usually associated with major troughs.
Bitcoin MVRV data chart.
The Net Unrealized Profit/Loss (NUPL) ratio measures the market's profit and loss status and is currently 0.24. This value indicates that most investors are in a profitable state, but the market has not yet entered an excessively frenzied stage. Historically, NUPL values above 0.7 are associated with the market approaching a peak, while values below 0 usually indicate capitulation and bottoming.
Bitcoin NUPL data chart.
0 comment A文章作者M管理员
No Comments Yet. Be the first to share what you think
❯
Profile
Search
Checking in, please wait...
Click for today's check-in bonus！
You have earned {{mission.data.mission.credit}} points today
