Bitcoin – Why BTC is not in a price bubble, despite recent volatility
Main Idea
Bitcoin is experiencing steady growth without signs of a speculative bubble, supported by long-term indicators like the Power Law theory, while short-term holders drive current market volatility.
Key Points
1. Bitcoin's price is growing steadily, avoiding the wild spikes typical of past bull runs, and remains above its long-term growth trend.
2. A report by Arab Chain on CryptoQuant shows Bitcoin closely follows the Power Law theory, indicating disciplined, organic growth with potential for further upside.
3. On-chain data from Glassnode reveals that 85.5% of Bitcoin's spent volume in the last 24 hours came from short-term holders (STHs), highlighting their role in current market volatility.
4. Bitcoin's price hovered around $113,545 with a daily RSI of 42.91, showing weakened bullish momentum but not yet oversold, while OBV trends downward, reflecting reduced buying pressure.
Description
Market indicators point to controlled growth, with long-term holders staying firm.
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