A market indicator is flashing that Bitcoin is now firmly in a “high risk” zone — a sign it could be in the early stages of a bull market, says Glassnode.
On-chain indicators assessing Bitcoin’s (BTC) value have entered a “high-risk” zone and could mean the cryptocurrency is in the initial stages of a bull market, says the crypto analysis platform Glassnode.
In a Feb. 10 X post, Glassnode shared that an indicator to identify Bitcoin’s long-term valuation compared relative to its market value had pushed above the “mid-risk” zone and is firmly in the “high-risk” band.
The high-risk level is typically witnessed during the early stages of a Bitcoin bull market as it shows long-term investors have returned to a “meaningful level” of profitability, Glassnode noted in an earlier Feb. 8 report.
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Source: https://cointelegraph.com/news/on-chain-indicators-suggest-high-risk-bitcoin-market-glassnode