BlockBeats news, on October 6, on-chain data analyst Murphy stated that when analyzing the unrealized PNL ratio (UPUL) of Bitcoin on the chain, normally, the higher the price, the larger the UP, and the UPUL would also be larger. However, the current situation is that with higher prices, the UPUL is actually lower, indicating that the market's rise is increasingly dependent on the continuous inflow of new funds, rather than the holding confidence of existing chips. Therefore, it is necessary to focus on the net inflow of ETFs and the size of the Spot exposure. Once the inflow slows down, the short-term surge will be limited. Swing traders have started to take profits in batches, which is reasonable. At the same time, there have been no obvious signs of a bear market in the bull run cycle so far.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
France Crypto Crime: Couple Held at Knifepoint and Forced to Transfer Nearly $1M in Bitcoin
Armed criminals posing as police officers forced a French couple to transfer roughly $980,000 worth of bitcoin during a violent home invasion on Monday in Chesnay, France, in what authorities say is part of a growing wave of crypto-linked kidnappings across the country.
France Investigates €900K
Coinpedia37m ago
Why Bitcoin Is on a Path to $1 Million Per Coin: Bitwise
In brief
Bitwise CIO Matt Hougan thinks Bitcoin can get to a price of $1 million as the broader store of value market cap grows.
The top crypto asset would need to jump more than 14x in order to reach the mark.
Declining volatility, ETF inflows, and institutional acceptance will help
Decrypt47m ago
BTC breaks through $70,000, with a 24-hour increase of 1.6%
Gate News Report, March 10 — According to data from a certain CEX, BTC broke through 70,000 USDT, currently trading at 70,007.5 USDT, with a 24-hour increase of 1.6%.
GateNews2h ago
