Leading crypto company Glassnode, Bitcoin $96,137.04He shared the data stating that he approached the turning point in the market cycle. In the analysis published on the social media platform, it was stated that the relationship between mid -term investors and short -term entrepreneurs were examined using Rhodl ratio. In the assessment, this ratio points to the upper and lower points of the market.
Rhodl ratio and market turning point
The Rhodl ratio is used to search for return signals in the market layout over the eclipse of assets held by Bitcoin investors. The ratio is high, market bottoms; The flow of low or intensive new participant is considered to be a harbinger of loop summits.
According to Glassnode data, the fact that the current ratio is tending to decrease indicates the increase in participation in the short term. It was stated that this sign showed parallel with the dynamics observed in the last stages of past bull sessions.
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Glassnode official: “The rate is currently heading towards the last stages of the bull markets. Although not at absolute low levels, short -term participation increases are seen. If the ratio falls further and rises again, this may be a signal of return in the market. ”
Technical Analysis and Estimates
Market analyst Donalt said that Bitcoin is still trading over $ 90,000 in the latest strategy session, indicating at higher prices.
Donalt: “Despite the decline tendency, technical analysis indicators signal a slight decrease in the transaction below 101,000, while the general upward trend continues. Although there are short -term uncertainties, existing prices indicate that the rise continues. ”
Despite the impact of international developments and commercial tension news in the market, the expected correction of Bitcoin’s price did not occur, and investors have continued short -term mobility. Market actors, technical indicators and news flow together will closely affect the future transformation.
While the analysis provides different opinions about the current situation of the market, investors are advised to consider both technical and basic data in the decision processes. This reveals the importance of monitoring possible return signals in the market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
