Analyst: Bitcoin is currently in a neutral range that is neither overbought nor oversold.

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BlockBeats News, on June 30, CryptoQuant analyst Axel Adler Jr stated that "the Bitcoin metric based on realized supply distribution" indicates how expensive Bitcoin's current price is relative to the actual investment cost of all holders. Realized supply refers to the total dollar value corresponding to the price at which all Bitcoins were last transferred on-chain. The calculation formula is: Bitcoin price / realized supply = Ratio. Currently, the Bitcoin price is slightly above the annual average ratio level (similar to November 2024, when the ratio was also at this level, after which Bitcoin rose from $74,000 to $107,000). This means that Bitcoin is neither overbought nor oversold at present—the market is in a neutral range.

BTC-0.17%
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