Bitcoin is in a “transition phase,” consolidating below $70,000 after retreating from $71,000, however the recovery lacks the “ingredients of a decisive bullish turn”. Despite accelerating institutional inflows into US Spot Bitcoin ETFs, the average ETF holder is currently “underwater” (negative MVRV ratio), interpreted as “capitulation-like conditions” for recent institutional entrants. On-chain network activity shows […]
The post Bitcoin’s (BTC/USD) Price Outlook: Why Bitcoin’s Recovery Still Lacks the Ingredients for a Decisive Bullish Turn appeared first on ActionForex.
