On-chain Bitcoin net realized profit data indicates the amount of profit/loss realized in that price range.

In a bull market, when Bitcoin reaches the peak of the previous up cycle, the scope of profit realization increases and Bitcoin goes through a sideways or correction period to absorb the volume.

Then the market reaches the end of the bull market and sees strong growth.

Currently, Bitcoin has reached the peak of the 2021 bull market and is digesting the amount of profit realization.

After a correction or sideways period of 1-2 months, we will likely see another strong rally.

Also, since the strong growth of most altcoins occurs at the end of a bull market, 2024 is likely to be a year to look forward to for both Bitcoin and altcoins.

Author: Krypto Dan.