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Is Bitcoin due for a pullback? – THESE key datasets suggest…
Bitcoin’s market environment has become increasingly fragile, with multiple on-chain metrics flashing warning signs of potential weakness beneath the surface. As the cryptocurrency trades near $108K, numerous indicators are suggesting that the price may be in for a correction.
Apparent demand, which measures the ability of new buyers to absorb supply from miners and long-term holders, has turned negative once again. This shift highlights renewed distribution from experienced holders and miners, exposing Bitcoin to short-term downside risks amid waning organic demand and limited new capital inflow.
Meanwhile, rising miner profitability and a surge in exchange netflows have sparked concerns about growing sell-side pressure and possible overvaluation. The surging NVT Ratio has also indicated that market cap is outpacing transaction volume, often a common signal of overheating.
In addition, the DAA divergence chart remains deeply red, signaling that growth in active addresses continues to lag behind price action. This negative divergence historically foreshadows corrections, especially when price climbs while address activity stagnates or declines.
Furthermore, a high percentage of profitable UTXOs suggests limited buyer support, as most holders are currently incentivized by their unrealized gains rather than a desire to accumulate more coins at higher prices.
As it stands, the data points to growing weakness beneath Bitcoin’s price, which could ultimately put downward pressure on the cryptocurrency.
Source: ambcrypto.com
