PANews reported on August 1st that Glassnode analyzed on X platform: "The proportion of Bitcoin's profitable supply has been maintained above 90% for over a month. When almost all holders are in a profitable state, selling pressure tends to accumulate. The indicator's +1 standard deviation threshold is 91% - this is the key level that needs to be closely monitored. If it falls below this threshold, it may signal a more significant price pullback."
Analysis: Bitcoin's profitable supply ratio has remained above 90% for more than a month, and the risk of selling pressure has intensified
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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