The bitcoin market is in a state of 'high risk', according to network indicators

The bitcoin market is in a state of 'high risk', according to network indicators

user avatar

by Max Nevskyi

3 years ago

According to the latest data from the Glassnode crypto analysis platform, network indicators used to assess the value of Bitcoin (BTC) have shown a high level of risk, which may indicate the beginning of a bull market for cryptocurrency.

As per Glassnode's report on February 10th, the indicator determining Bitcoin's long-term value relative to its market value has exceeded the "medium risk" zone and firmly entered the "high risk" area.

An elevated risk level typically signals the start of a bull market for Bitcoin, as it suggests the return of long-term investors to a "significant level" of profitability, noted Glassnode.

The MVRV indicator (Market Value to Realized Value ratio) aims to determine whether Bitcoin is overvalued or undervalued compared to its "fair value".

According to data from the crypto analytics platform SoSoValue, on February 9th, new spot Bitcoin ETFs in the US attracted a net inflow of $541 million, marking the largest daily inflow of funds except for the first day of trading.

Meanwhile, Grayscale GBTC recorded its lowest daily outflow: on February 9th, only $51.8 million was withdrawn from the fund, which is 91% less than the record daily outflow of $620 million recorded on January 23rd.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Zcash's Impressive Market Performance and ETF Launch

chest

Zcash has experienced a remarkable price increase, gaining over 2,300% in the past year, aided by the launch of Grayscale's Zcash ETF.

user avatarLucas Weissmann

Zcash Surpasses $1,000 Mark, Achieving New All-Time High

chest

Zcash's price broke above $1,000 for the first time in nearly a decade, marking a significant milestone in its market performance.

user avatarRajesh Kumar

Trezor Implements New Security Measures After Data Breach

chest

Trezor is enhancing security measures, including anonymous delivery options, in response to a data breach affecting 67,000 customers.

user avatarFilippo Romano

Data Breach Affects 67,000 Trezor Customers

chest

A data breach at shipping provider ShipMonk has exposed personal information of 67,000 Trezor customers in the US.

user avatarEmily Carter

BAI Establishes Global Settlement Layer for AI Agents to Enhance Collaboration

chest

BAI is building a global settlement layer to enhance collaboration and efficiency among AI agents across various workflows.

user avatarTomas Novak

BAI Launches Free Access to Premium AI Models, Surpassing 133 Trillion Daily Tokens

chest

BAI has launched free access to its premium AI models, leading to a significant increase in platform activity and user adoption.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.