Bitcoin Consolidates Amid Cooling Demand and Mixed Signals
Bitcoin enters a neutral phase as on-chain metrics show fading demand and restrained long-term selling. The Coin Days Destroyed (CDD) metric fell to 500K, down from over 1 million, indicating long-term holders are accumulating rather than taking profits. UTXOs in loss jumped 42.8% to 12.23 million, while UTXOs in profit dipped 1.2% to 305.15 million, suggesting recent buyers face underwater positions. The taker buy/sell ratio edged to 1.028, reflecting mild buy-side dominance without strong momentum. Volatility remains elevated at 0.011 but lacks directional follow-through. Network Growth plunged from over 500K to 76.5K, signaling weaker organic demand and fewer new addresses. Together, these indicators point to consolidation rather than a breakout. Traders should watch for renewed Network Growth or taker activity before expecting a clear directional move.
Neutral
The article outlines balanced on-chain data: restrained long-term selling, rising unrealized losses, slight buy-side edge, and a sharp drop in network growth. Similar patterns in past consolidation phases show that without a spike in address activity or taker volume, Bitcoin tends to trade sideways. In the short term, traders may remain cautious, awaiting stronger signals. Over the long term, if accumulation persists and network growth recovers, upward momentum could resume. Until then, the market outlook remains neutral.