Bitcoin Rebounds to $60K From $125K Fall, But On-Chain Data Hasn't Confirmed New Bull Cycle Yet, Analyst Says

BTC-1.57%
According to on-chain analyst Axel Adler Jr, Bitcoin has rebounded from $60,000 after falling from approximately $125,000, though key on-chain indicators have not yet confirmed entry into a new bull market cycle as of May 10. Multiple metrics—including the percentage of loss-making supply and 90-day UTXO indicators—have not shown the cyclical bottom structure typically seen at bear market lows, and long-term holder realized supply has not displayed the typical accumulation pattern of late-stage bear markets, suggesting the market has not yet entered a deep reallocation phase.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments