Golden Finance reports that CryptoQuant analyst Axel Adler Jr stated on social media that the Bitcoin market is currently in a correction phase, retracing 30% from its all-time high. Two on-chain indicators—short-term holder spent profit and loss ratio (STH SOPR) and profit/loss blocks (P/L Block)—show that market participants are realizing losses, and market sentiment is deteriorating. Short-term holders are exhibiting capitulation behavior, and the current market faces local pressure.
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