Grayscale: The cryptocurrency market is currently in the middle of a bull market, supported by strong fundamentals and technical factors


According to a recent report by Grayscale, Bitcoin market cycle indicators show that the cryptocurrency market is currently in the middle of a bull market, supported by strong fundamentals and technical factors. Grayscale uses baseball as a metaphor to say that we are currently in the middle or fifth inning of the current bull market.
Grayscale analysts use unrealized net profit and loss (NUPL) to say that the NUPL ratio rises as the price of BTC rises.
Grayscale analysts also looked at data from Satiment, which shows that retail investor interest remains well below levels seen during the 2021 bull market. In addition, data from Google Trends shows that the search interest level for the word "cryptocurrency" is below 40, significantly lower than the peak of 99 in 2021. This suggests that the broader public's curiosity about cryptocurrencies may not have fully rebounded yet.
After considering these technical and fundamental factors, Grayscale concludes that the bull market is here to stay. However, the company advises investors to carefully monitor the inflows of spot bitcoin ETFs and other macroeconomic factors for signs of market change. #比特币现货 ETF
BTC-0.07%
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