BTC is getting interesting again.
Looking at CryptoQuant, the Unrealized Profit Margin for 1 to 3 month holders has flipped from negative to positive and is now sitting above its 30 day EMA.
Basically, a lot of the short term holders who were underwater are back in profit.
That’s definitely a positive shift, but I wouldn’t call it confirmation of a sustained uptrend just yet.
For me, the more interesting part is what happens next.
If this profitability keeps holding and continues trending higher, it could show that newer market participants are gaining confidence rather than simply getting a temporary relief bounce.
So this is one of those indicators I’m keeping on the radar over the next few weeks.
#BTC doesn’t need another bullish headline right now.
The on chain data needs to prove it.
$BTC #BTC Price Analysis# #Altcoin Season#
Looking at CryptoQuant, the Unrealized Profit Margin for 1 to 3 month holders has flipped from negative to positive and is now sitting above its 30 day EMA.
Basically, a lot of the short term holders who were underwater are back in profit.
That’s definitely a positive shift, but I wouldn’t call it confirmation of a sustained uptrend just yet.
For me, the more interesting part is what happens next.
If this profitability keeps holding and continues trending higher, it could show that newer market participants are gaining confidence rather than simply getting a temporary relief bounce.
So this is one of those indicators I’m keeping on the radar over the next few weeks.
#BTC doesn’t need another bullish headline right now.
The on chain data needs to prove it.
$BTC #BTC Price Analysis# #Altcoin Season#
