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Bitcoin's Short-Lived Euphoria Despite New Highs
Despite Bitcoin reaching a new high above $118,000, the net unrealized profit and loss (NUPL) of long-term holders remains below the euphoria zone. In this cycle, the period exceeding the 0.75 threshold lasted only about 30 days, compared to 228 days in the previous cycle.
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AI Analysis
The recent achievement of Bitcoin surpassing $118,000 indicates strong bullish momentum and investor confidence at a price peak. However, the analysis of long-term holder sentiment via the NUPL metric...
AI Recommendation
Investors should remain cautious despite Bitcoin's new all-time highs, as the market has not entered a true euphoria state. It is advisable to avoid overextending in long positions on the assumption o...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.