Is Bitcoin due for a pullback? – THESE key datasets suggest…

Key Points

1. Bitcoin traded at $108,129.78 with a 0.68% 24-hour gain, but on-chain signals show underlying weakness.

2. Puell Multiple rose 25.73% to 1.26, indicating increased miner profitability and potential selling pressure.

3. NVT Ratio surged 84.17% to 55.17, showing market cap outpacing transaction volume, a bearish signal.

4. Over 98.82% of UTXOs were in profit, signaling most holders have unrealized gains, which may precede a local top.

5. BTC registered a net inflow of $57.5 million to exchanges, suggesting holders may be moving from accumulation to distribution.