Bitcoin ‘risk off’ signals fire despite traders’ view that sub-$100K BTC is a discount
Cointelegraph
Despite Bitcoin holding above $90,000, on-chain data indicates a significant 'risk-off' signal suggesting potential downside correction.Summary
Bitcoin's price action above $90,000 is contradicted by on-chain metrics, as CryptoQuant’s risk-off oscillator remains near the 'High-Risk' zone, historically preceding corrections. Further compounding this weakness, the Profit/Loss sentiment hit an extreme -3, signaling structural correction, with the current -32% drawdown placing BTC in a vulnerable zone between a correction and capitulation. While short-term holders drove realized losses to a post-FTX high, long-term holders show resilience. Analysts suggest that approaching the $100,000 mark is a critical battleground; if BTC rejects this resistance, it may become stuck in a range between $92,000 and $82,000 due to underlying structural weakness.
(Source：Cointelegraph)