Bitcoin Net Realized Profit/Loss Still Has A Pretty Negative Value
As per the latest weekly report from , the net loss realization has reduced a bit recently, but the market is not near a neutral level of selling yet. The “net realized profit/loss” is an indicator that measures the net magnitude of profits or losses being realized by all investors in the Bitcoin market.The 90-day moving average value of the metric seems to have been negative in recent days | Source:As you can see in the above graph, the Bitcoin net realized profit/loss has had a deeply negative value during the last few weeks.
Historically, the last bottom phase of a bear market has been marked by a steady decline in the amount of losses being reaped, with the market eventually flipping into profits as a bull run takes hold.
Most recently, the degree of net losses being realized in the market has gone down slightly, but as of now the metric’s value is still fairly large. This could imply the crypto is not out of the bear market just yet.
BTC Price
At the time of writing, Bitcoin’s price floats around $21.3k, down 11% in the past week. Over the last month, the crypto has lost 5% in value.
The below chart shows the trend in the price of the coin over the past five days.Looks like the value of the crypto has been moving sideways since the plunge a few days back | Source:
Featured image from 愚木混株 cdd20 on Unsplash.com, charts from TradingView.com, Glassnode.com