Crypto vs. macro comparison. Source: Santiment/ Twitter
At the time, BTC/USD was almost $1,000 higher than current levels, but enthusiasm was just as lacking. For the past several months, NUPL has stayed practically stationary around a value of 0.25 — indicating that overall, the BTC supply are modestly “in the black.”
“Feels like it’s a matter of time until Bitcoin finally breaks that 30k level once and for all,” trader Jelle wrote in part of his latest analysis. Jelle, like others, noted that the 200-week moving average (MA) — a key support line — remained intact.
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