According to Matrixport analysis, the bull-bear market indicator of the ratio of bitcoin market capitalization to realized market capitalization has re-entered bullish territory. This on-chain data reversal is usually rare and only changes direction within a few weeks. A similar situation occurred in 2020, when it was considered a mid-cycle slowdown.
Analysts pointed out that the positive change in the current indicator may indicate that Bitcoin is expected to reach a new all-time high. Although technical analysis and market outlooks usually lead the on-chain data, the emergence of confirmation indicators still has important reference value. If the indicator can continue to maintain positive momentum, Bitcoin price may break further.
Analysis: Bitcoin bullish signal reappears or hits new highs
2025-05-19 07:14:33
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