When To Be Bearish On Bitcoin? On-Chain Analyst Answers
Summary
Bitcoin on-chain analyst Checkmate has identified two indicators for determining bearish signals in the market: Short-Term Holder Realized Profit/Loss Momentum and Short-Term Holder MVRV Ratio Momentum. The Realized Profit/Loss Momentum measures the momentum in the ratio of profit and loss realized by recent Bitcoin investors, while the MVRV Ratio tracks the distance between the Market Value to Realized Value Ratio for this cohort and its 155-day moving average. Both indicators give bearish signals when their momentum turns red, indicating negative momentum. Currently, Bitcoin's price has slipped to $57,800 after reaching $62,000 earlier in the week.
