On-chain data shows CryptoQuant’s Bitcoin Bull-Bear Market Cycle Indicator has witnessed a deep plunge into the bearish territory recently.
Bitcoin Bull-Bear Cycle Indicator Now Most Bearish Since 2022 Bottom
In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the CryptoQuant Bitcoin Bull-Bear Market Cycle Indicator. This metric tells us, as its name suggests, about the market phase that the cryptocurrency is currently inside.
The indicator is based on another CryptoQuant metric called the P&L Index, which combines the data of key on-chain indicators to build a single valuation index for Bitcoin. More specifically, the metrics that the P&L Index uses are the MVRV Ratio, NUPL, and LTH/STH SOPR.
The MVRV Ratio and NUPL both deal with unrealized network profits/losses, while the LTH/STH SOPR with profits/losses being realized by the investors through their transactions.
According to CryptoQuant, the P&L Index’s inter
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-bull-bear-drops-to-deepest-ftx-bottom/
