According to an analysis of Bitcoin’s on-chain indicator, NRPL (Net Realized Profit and Loss), the market appears to have completed its preparation for a new rally.
NRPL measures the net realized profit and loss from investors, and recent data shows that:
1. The market has passed through an Over Heating phase,
2. Formed a Bottom signal, and
3. Is now ready to embark on a Bull Run.
In short, investor sentiment is recovering. While a minor short-term correction could occur, the likelihood of a new Bull Run starting is steadily increasing.
Written by Crypto Dan
