$BTC Evaluation and Trading Perspective from On-Chain

BTC-Evaluation-and-Trading-Perspective-from-On-Chain

December 2022 Today, $BTC is still NOT positive in on-chain data.

If you look at when it got worse, the DeFi market collapsed and accelerated after the $LUNA crisis in May 2022. A series of bad news led to the ruin of not only individual but also institutional investors.

In addition, it led to a decrease in transaction volume, and the value of the network was lower than before, leading to the conclusion that it was overvalued from an on-chain perspective.

Even in the UTXO data, which is seen as a measure of $BTC holdings on-chain, the ratio of loss in 2022 continues to expand. A more extended bear market could be seen as a potential risk that could add selling pressure.

✍🏻 Comment (Trading Point)

If you are considering buying, it won't be too late to spend more time finding and responding to market reversal points.

Currently, it seems good to keep the assets you have and wait for the right time.

technical point of view 
- Positive scenario 18.7K
- Negative scenario 12.6K