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13 May 2021

This Indicator Signals Caution For Bitcoin Holders, Should Bulls Beware?

This Indicator Signals Caution For Bitcoin Holders, Should Bulls Beware?


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On-chain analyst Permatoro Niño claims Bitcoin could set a price floor around $54,000 to $56,000.

According to the Realized Profits metric for the last 3 days, a metric used to measure the amount of BTC converted into profit by investors, there have been large green values around the $40,000 and $60,000, said the analyst.

In support of the bulls, the analyst reviewed Bitcoin’s Market Value Realized Value (MVRV), a metric used to measure potential local tops, and said the following:

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