An analysis stating that #Bitcoin is entering a phase intertwined with weakening spot demand and structural weakness, and although the market is stable, it is far from healthy.
Although the price of #Bitcoin has rebounded from recent lows, it is still trapped in a narrow range of $84,000 to $91,000, and the S&P 500 is near its all-time high, indicating a deepening relative weakness and an increasing decoupling from traditional risk assets.
On-chain data indicates that more than 7.00 million Bitcoins are in a state of unrealized loss, reflecting the market's difficulty in regaining the true market average.$BTC
BTC
90,191.99
+0.06%
XRPUSDT
Perp
1.9926
-0.26%
