Market Sentiment: Why Does Optimism Prevail?
Realized Profit and Loss Ratio, an important indicator that measures market sentiment by comparing actual profit and loss ratios, has fallen recently. This shows that many investors who aimed to sell at high prices have already done so and the selling pressure has decreased. Additionally, the fact that Bitcoin's price is above the average purchase price for new buyers means additional earning potential. When the price exceeds the average purchase price, new investors begin to take profits, which increases their confidence and can encourage buying activity. If historical trends continue, Bitcoin could soon surpass the $72,000 level.
