Bitcoin (BTC) continues its downward trend, falling by 4.58%. The Cryptocurrency Fear and Greed Index has dropped to an extremely low level of 5, hitting a new low since 2019. Ethereum (ETH) also declined, influenced by co-founder Vitalik Buterin's selling activity. On-chain data from Glassnode shows that the 90-day realized profit and loss ratio for Bitcoin has fallen below 1, indicating that holders are continuously selling at a loss. Historically, this situation typically lasts about six months. Analysts believe that a potential buy signal may occur only when this ratio rises above 1 or when the Net Unrealized Profit/Loss (NUPL) indicator drops below zero (indicating market deep discount).
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Bitcoin (BTC) continues its downward trend, falling by 4.58%. The Cryptocurrency Fear and Greed Index has dropped to an extremely low level of 5, hitting a new low since 2019. Ethereum (ETH) also declined, influenced by co-founder Vitalik Buterin's selling activity. On-chain data from Glassnode shows that the 90-day realized profit and loss ratio for Bitcoin has fallen below 1, indicating that holders are continuously selling at a loss. Historically, this situation typically lasts about six months. Analysts believe that a potential buy signal may occur only when this ratio rises above 1 or when the Net Unrealized Profit/Loss (NUPL) indicator drops below zero (indicating market deep discount).