If you want a big picture view of the environment Bitcoin is evolving in today, you just need to look at this heatmap. 📊 It summarizes several key factors influencing BTC’s price action and gives a snapshot of the market’s onchain health. It covers a range of important data points related to demand, liquidity, and Bitcoin’s valuation. ❌ Right now, all of these indicators remain in the red, which suggests that the environment is not improving yet. As long as that remains the case, it is hard to imagine BTC reaching new highs in the short term. Patience… Chart by @jjcmoreno

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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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