Derived from 528btc, Bitcoin's price has remained within a range of $89,000 to $93,000, as traders remain cautious amid mixed on-chain signals. Chain analysis shows a tug-of-war between profit-taking and capital reallocation, with Bitcoin's MVRV ratio rising to 1.67 and trading volume hitting $22.6 billion. ETF investors have shifted from net buying to net selling, with a $707.3 million sell-off reported. Meanwhile, the options market shows increased bearish sentiment, with the 25delta skew rising to 12.88%, indicating higher demand for downside protection. Short-term holders are currently driving market movements, with STH-SOPR at 18.5% and Hot Capital Share at 39.9%. Analysts note that Bitcoin remains below its average buy price of $109,000, and macroeconomic uncertainty continues to weigh on its performance.
Bitcoin Price Hovers Between $89,000 and $93,000 Amid Mixed Market Signals
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