Deep Tide TechFlow News, on August 14, CryptoQuant analyst Axel Adler Jr tweeted that despite Bitcoin's price reaching an all-time high, the BPT indicator remains at a moderate level of 2.56, below the previous local high of 3.57. At the same time, the Realized P&L Ratio is still at an average level, indicating that the current market state has relatively lower risk compared to previous overheating periods. Technically, the price remains above the 4-year moving average and its two standard deviations, confirming the continuation of the upward trend. The analyst pointed out that one should be wary of the regular pullback risk within the upward trend, and a BPT breakout above 3.0 may indicate that the market is entering a later stage.