Bitcoin Market Cools with Sharp Drop in Block P/L Count Ratio from 100K to Just 159
The post Bitcoin Market Cools with Sharp Drop in Block P/L Count Ratio from 100K to Just 159 appeared on BitcoinEthereumNews.com.
The Bitcoin ($BTC) market is reportedly going through a considerable shift as the latest statistics point out. As per the prominent crypto analyst, Bitcoin’s Block P/L Count Ratio model has declined from the significant heights of more than 100,000 to just 159, suggesting a significant shift in market momentum. The analyst took to social media to reflect on Bitcoin’s current market dynamics and their potential impact. After investors secured maximum profits at levels of $90K–$100K, the Block P/L Count Ratio model, which reflects Profit and Loss within each block (10 minutes), indicates that the market is gradually cooling down. The metric has dropped from levels above 100K to 159. I’m not… pic.twitter.com/7RZ6agN1cH — Axel 💎🙌 Adler Jr (@AxelAdlerJr) January 4, 2025 Block P/L Count Ratio of Bitcoin Dips Underscoring Market Cooling Phase Axel Adler Jr. brought to the front that the Block P/L Count Ratio model of Bitcoin has plunged from the 100K mark to merely 159. The respective metric reportedly measures the profit/loss ratio every 10 minutes. In line with the data, the sheer slump in the respective metric signals a likely cooling period across the crypto market. The updated statistics also disclose that such dips historically lead to reversals or phases of market stabilization. Despite the market’s heightened position, this decreasing ratio indicates the waning trading activity. The possible reasons behind this situation include the cut in demand or amplified profit-taking on the hands of big holders. More Decline in Demand Might Result in Further Price Consolidation The Block P/L Count Ratio correction takes place following a massive profit-taking by the investors. Several traders have reportedly capitalized on the upward trajectory of the top crypto asset. As the analyst puts it, though it is difficult to estimate the duration of the current market scenario, the present demand crucially contributes…
Filed under: News - @ January 4, 2025 9:23 pm