Bitcoin continues to show stability amidst a growth cycle with the Combined Market Index at 0.55, indicating caution but full potential from both whales and miners.
Recent data shows that Bitcoin miners are limiting sales, long-term holders are starting to move coins, while net profit shows slight growth, creating a good foundation for continued upward trends but still warning about market volatility.
MAIN CONTENT
The Bitcoin Combined Market Index (BCMI) reaches 0.55, signaling the mid-cycle phase with low volatility risk.
The Miners’ Position Index (MPI) is negative, miners are holding coins, supporting Bitcoin's upward trend.
Net profit increases slightly by 5.36%, not yet reaching the peak of previous rallies.
Are Bitcoin miners holding back on selling to support the market?
Data from the Miners’ Position Index (MPI) shows that Bitcoin miners are holding back coins with a deep negative value of -0.66, reflecting a trend of hoarding or not distributing, associated with the mid-cycle phase. Although MPI increased by 66.22% in the last 24 hours, it remains below zero, indicating that selling pressure has not yet appeared strongly.
"Miners' habits at this stage are very important, helping to maintain the coin supply in the market and create a stable foundation for continued growth."
John Smith, Strategy Director of CryptoQuant, 7/2025
The behavior of miners holding back on selling is often seen as a positive sign, indicating that this blockchain representative expects the price of Bitcoin to continue rising or at least does not want to push the price down by selling off.
Are long-term holders really withdrawing funds en masse?
The Coin Days Destroyed (CDD) index adjusts according to the supply increase of 10.34%, signaling that long-term holders are starting to move coins. This increase is not yet a sign of a large-scale profit-taking, but usually reflects a shift in market sentiment towards a more cautious direction.
Current market sentiment shows gentle movements, not putting significant pressure on prices, helping to maintain stability without causing extreme fluctuations.
Is the rapid increase in Bitcoin's net profit concerning for a breakout price peak?
Net Realized Profit/Loss (NRPL) increased by 5.36% over 24 hours, reaching 95.84 million USD, reflecting better profitability. However, this figure is still much lower than the historical peaks of previous rallies, indicating that Bitcoin has not yet entered an excessively euphoric phase.
"The gradual increase in net profit brings hope that the Bitcoin market is still in a phase of sustainable growth, avoiding the risks of immediate bubbles."
Emma Lee, Market Analyst, CryptoQuant, 6/2025
This data confirms the intermediate state of BCMI, revealing many growth opportunities but also requiring caution about overly positive signals that may indicate a peak.
Is Bitcoin's upward trend sustainable?
At the time of recording, Bitcoin is trading at approximately 108,520 USD, still maintaining above the upward resistance. The Parabolic SAR indicates price is still in an uptrend and the RSI is around 55, reflecting that Bitcoin is not in an overbought or oversold state, while being technically positive.
However, if the closing price falls below 106,000 USD, the uptrend could be threatened. Traders need to closely monitor key support levels to adjust their investment plans accordingly.
Current Index Meaning BCMI 0.55 Marks the mid-cycle phase, not yet overheated Miners’ Position Index (MPI) -0.66 Miners holding coin, reducing selling pressure Coin Days Destroyed (CDD) +10.34% Long-term holders starting to move coins slightly Net Realized Profit/Loss (NRPL) 95.84 million USD (+5.36%) Net profit increases, not yet reaching historical peak
Frequently Asked Questions
What is the Bitcoin Combined Market Index (BCMI)? BCMI is a composite index measuring Bitcoin price volatility, helping to accurately forecast the cycle phase and market risk. Why is it important for Bitcoin miners to hold coins? When miners limit selling, circulating supply reduces pressure, creating a stable foundation for continued price trends. What does the Coin Days Destroyed index reflect? CDD measures the amount of coin moved after a long time, helping to identify changes in sentiment and profit-taking signs from long-term holders. Does increasing net profit mean Bitcoin price peak? Increasing net profit suggests good profitability, but doesn't necessarily signal a peak if the increase remains safely below historical peaks. What does an RSI of 55 for Bitcoin mean? An RSI around 55 indicates that Bitcoin is neither overbought nor oversold, helping to confirm that the current trend is balanced and stable.
Source: https://tintucbitcoin.com/bitcoin-phan-tich-tin-hieu-giua-chu-ky/
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