CoinVoice has recently learned that CryptoQuant analyst Axel Adler Jr tweeted that although Bitcoin prices have reached 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 remains at an average level, indicating that the current market state poses relatively lower risks compared to previous overheated periods. Technically, prices are maintaining above the 4-year moving average and its two standard deviations, confirming the continuation of the upward trend.

The analyst pointed out the need to be cautious of the regular pullback risks in the upward trend, while a BPT breakout above 3.0 could potentially signal that the market is entering a later stage.[Original link]