In recent months, the risk in the Bitcoin market has escalated due to remarkable price surges and the subsequent increase in unrealized profit margins for investors. However, if we closely examine the market demand trends for Bitcoin and its response to valuable support levels based on on-chain data, the momentum of demand remains robust even in the short term.
Bitcoin has shown an appropriate reaction and the ability to maintain two realized price metrics. So far, it has successfully sustained its demand trend in the short term. In other words, as long as Bitcoin's price stays above the average realized price of highly active addresses and short-term whales, the short-term price trend remains solid, tipping the scales in favor of price growth.
Written by Crazzyblockk