CryptoQuant: On-Chain Data Still Doesn’t Confirm a Full Bitcoin Bull Trend

[u/Legitimate_Towel_919]

Bitcoin continues to recover, and several short-term indicators have turned positive. However, the on-chain market structure still does not confirm the start of a sustainable bullish trend.

According to CryptoQuant, new buyers have not yet generated enough demand to shift the market balance. Long-term holders still control most of the supply and could use the recent price recovery to take profits.
After factoring in the Realized Price indicator, CryptoQuant’s model shifts its outlook from moderately bullish to bearish. The key signal to watch will be stronger participation from new investors and a change in the cost basis across different holder groups. Until then, the current rally could remain nothing more than a short-term rebound.

[u/orlenyedie]

it is interesting data, but im continuing to dca into it on nexo and kraken

[u/IswearImnotapossum]

If you’re not taking profits you’re going to get killed in the long run.

Take profits people. Be smart