Key Takeaways
Bitcoin hit a $1T realized cap, yet its 90-day return stayed flat. With Spent Volume cooling and phase #4 metrics flashing late-bull, Bitcoin’s next move remains unsettled.
The Realized Cap of Bitcoin [BTC] hit $1 trillion, an unprecedented milestone.
In a recent report, AMBCrypto observed that a move to $120k could trigger $2 billion in short liquidations. This meant a BTC breakout could accelerate faster than expected.
Range-bound between $112k and $120k
Source: Adler Insights
Over the past three months, volatility has been the name of the game. On top of that, Bitcoin has not been in a steady uptrend.
From May to the first week of July, the prices ranged from $102k to $110k. A breakout past this resistance in July reached $123k by mid-July.
Since then, the leading crypto has formed another range, from $112k to $120k.
The 90-day price return was at 5%, signifying a lack of long-term momentum. It was neutral momentum and highlighted the consolidation phase of the market, and not a new trend.
Moreover, the Short-Term Holder Realized Price was at $116k, and more sideways movement is likely. A correction toward $100k is possible, though recovery signs remain.
Neutral-bullish Bitcoin signals in late-stage bull market
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Author: Akashnath S
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