Crypto Dan
BTC - we are at the beginning of the bull market
At bull market peaks, the short-term SOPR indicator soars, suggesting that short-term investors of less than 6 months have sold for large profits. At the bottom of a bear market, the unrealized gain/loss ratio declines to -0.18 or less. It means that there is a lot of bitcoin that is being held at a loss to the bottom of the bear market. Recently, not only has short-term investors not been very profitable, but from a cycle point of view, recent bull period since the bottom in November 2022 has been less than 6 months. There may be variables that can affect the market depending on the recession issue and the US movement, but the market has already reached the bottom, and it can be seen that it is currently at the beginning of a bull market from a cycle perspective.