Another on-chain indicator I'm keeping an eye on is the NUPL Clearly $60k is not the Bear Market bottom.
$BTC is going much lower this year This short-term rally (barely noticeable on this chart lol) changes absolutely nothing.
Mid term looks really… 'NUPL didn't hit the red topping zone and the top was in, so why should it reach the bottoming zone now?'Well, the NUPL wasn't supposed to hit the red Euphoria/Greed Zone this cycle.
See that red Resistance line? Each cycle the indicator prints a LOWER HIGH for the Cycle Top and a Higher Low for the Bottom
$BTC is going much lower this year This short-term rally (barely noticeable on this chart lol) changes absolutely nothing.
Mid term looks really… 'NUPL didn't hit the red topping zone and the top was in, so why should it reach the bottoming zone now?'Well, the NUPL wasn't supposed to hit the red Euphoria/Greed Zone this cycle.
See that red Resistance line? Each cycle the indicator prints a LOWER HIGH for the Cycle Top and a Higher Low for the Bottom