BlockBeats message, April 8, an on-chain analyst named Murphy said, “In this round of Bitcoin rebound to $71,000–$72k, the average realized profit over the past 24 hours is only about $18.79 million, far lower than the large-scale profit-taking that was triggered by several prior rebounds. Meanwhile, short-term holders have an average realized loss of only about $6.06 million over the past 24 hours, which is extremely low in the near term.
Overall, market investors’ sentiment is gradually stabilizing, a clear improvement compared with the extreme pessimism in February. When prices rebound, the profit-taking positions are not in a rush to cash out, and the loss-making positions are also unwilling to stop losses too readily, suggesting that the market is looking for more upside room for the rebound. For short positions, you should not be overly fixated. Although indicators show a need for overbought and divergence repair, there are limited opportunities in the short term—so you must be cautious and not fight on for too long.”
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