Currently, Bitcoin’s Long/Short Ratio is at 1.48, contrasting with altcoins at 2.55. This indicates that investors exhibit more confidence in altcoins, meaning the market price bottom for Bitcoin hasn’t been reached yet.
Bitcoin has faced heightened volatility, trading between 94,000 USD and 100,000 USD recently. Despite the price fluctuations, long-term holders are showing optimism, demonstrated by a decrease in Coin Days Destroyed.
Bitcoin’s Mayer Multiple stands at 1.25, signaling that BTC is trading favorably above its 200-day moving average. If trends persist, Bitcoin could attempt to break through the 100,000 USD mark again.