"Daily Realized Profit of Bitcoin in January $3 Billion... Selling Pressure Decreases"
- In January, the realized profit of Bitcoin decreased to the level of $2 billion to $3 billion, indicating a reduction in selling pressure.
- As most investors have completed selling, the unrealized profit ratio has approached zero, which is interpreted as a signal of a price bottom in a bull market.
- However, the increase in spot demand has slowed, and for prices to rise, this demand increase needs to accelerate.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
This month, the daily realized profit of Bitcoin (BTC) has significantly decreased compared to last month.
The on-chain analysis firm CryptoQuant reported in its weekly analysis report on the 27th, "In December, when the price of Bitcoin approached $100,000, investors realized profits of up to $10 billion a day," and "However, in January, the daily realized profit fell to the level of $2 billion to $3 billion." CryptoQuant added, "This suggests that most investors have already completed selling Bitcoin," and "The unrealized profit ratio of traders has become almost zero (0), which is usually interpreted as a signal indicating the price bottom in a bull market."
However, it pointed out that the increase in demand for Bitcoin spot has slowed. CryptoQuant analyzed, "The real demand for Bitcoin is still expanding, but the speed has decreased significantly compared to last month," and "For the price to rise significantly, the increase in spot demand needs to accelerate again."

JOON HYOUNG LEE

gilson@bloomingbit.ioCrypto JournalistPiCK News
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