Bitcoin (BTC) is facing its longest post-halving delay to a new all-time high as it trades around $58K on Wednesday.
Bitcoin is facing its longest post-halving delay to a new all-time high. Halving cycle thesis may no longer hold due to significant shifts in market dynamics and supply overhang. Short-term holders could trigger a sell-off if prices decline further amid mixed signals from on-chain metrics. Bitcoin is facing its longest post-halving delay to a new all-time high as it trades around $58K on Wednesday.
Bitcoin's on-chain metrics indicate mixed signals As a result, Bitcoin's price has been facing bearish pressure that has seen its price struggle under the $60K mark. Despite the declining prices, BTC's unrealized losses are still at 2.9% of its market capitalization, per Glassnode data. Furthermore, the combined ratio of Unrealized Profit and Unrealized Loss is at 6.19, indicating that profits are 6x larger than losses for the aggregate investor.
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