Analyst: Market Not Showing Signs of Overheating, Bitcoin Poised for All-Time High
According to a report by Jinse Finance, CryptoQuant analyst Axel Adler Jr. stated on social media that whenever there is a strong price surge, causing a large number of previously loss-making tokens to quickly turn profitable, the 30-day simple moving average (SMA) of the Unspent Transaction Output (UTXO) profit and loss ratio rises above 200. The higher this indicator soars, the more likely the market is approaching an "overheated" or "sell-off release" phase. The market may still continue to reach new highs, but the "easy fuel" driving the profit and loss ratio upward is essentially exhausted, requiring stronger price momentum or significant volatility to push the indicator higher again.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Windward Bio (WWB.US) plans to list in the US and aims to raise up to 100 million dollars, with multiple drugs licensed to Chinese pharmaceutical companies.
Windward Bio Group filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) last Friday, aiming to raise up to 100 million dollars.
A Contrarian Amid the Selloff in French Bonds: 370 billion AUD Pension Fund Increases Holdings, Betting That Fiscal Risks Are Overestimated
Australia's second largest pension fund is buying French government bonds. The institution believes that the market has overreacted in pricing France's fiscal predicament and the European Central Bank's interest rate hike outlook.
Bravida Names Caroline Starck Head of Communications for Sweden
Tether is Developing AI-Powered Bitcoin Mining Management Technology! Here are the Details
Crypto prices
More
