Bitcoin Bounces From $62,500 but On-Chain Data Signals Prolonged Weakness
BeInCrypto
Despite a recent bounce, Bitcoin faces potential prolonged weakness according to on-chain data, with large holders reducing their positions.Summary
Bitcoin's price has slightly rebounded from $62,500, but technical signals and on-chain data suggest further downside potential. The Realized Profit/Loss Ratio has fallen below 1, historically indicating prolonged periods of loss realization. Additionally, addresses holding 1,000-10,000 BTC have reduced their exposure by nearly 90,000 BTC ($5.8 billion) over the past 12 days, potentially weighing on price stability. While immediate downside momentum is slowing, a break below $62,525 could lead to a retest of $60,000. A breakout above $67,394 would invalidate the bearish triangle pattern, but broader liquidity concerns remain.
(Source：BeInCrypto)