The ATH in BTC welcomed new participants into the market, as seen by UTXO Age Bands' steep incline, while it's clear that a high percentage of market participants are in profit, depicted by UTXO profit %. However, long-term holders continue to hold positions around an increasingly overleveraged derivate market.
The Spent Output Profit Ratio is positive, indicating that many moved tokens are in profit. There looks to be a mania phase picking up as options market call contracts increase significantly over a 2-month horizon.
Current probability models with a lag of 500 days indicate that BTC breached two standard deviations at $90,000, while a third standard deviation in price action currently resides around $101,000.
Written by ShivenMoodley
