As of April 9, 2025, 5:45 PM
While Bitcoin continues to show weakness around $77,200, on-chain indicators are maintaining a neutral trend along with declining Volume. Despite extreme fear sentiment, the market continues to explore cautiously without a clear direction.
๐ Price Right Now
Price $77,200 (2.32%โ) Bitcoin is trading at $77,199, down 2.32% from the previous day.
Volume $5.745 billion (19.87%โ) The trading Volume for the past 24 hours has decreased by 20% to $2.679 billion. As Volume declines, market vitality is weakening. Both active buying and selling are subdued.
Daily Fluctuation Rate 1.24% Bitcoin is currently up 1.24%. The upward movement remains limited, and the overall directional exploration continues. In the past 7 days, it rose 1.01%, and the previous day closed with a 3.60% decline.
Asset Comparison S&P500 โ ยท Gold โ The U.S. S&P500 index, which has high correlation with Bitcoin, recorded 4982.77, down 1.57%(-79.48). Gold, a safe-haven asset, recorded $3,068.70, up 2.63%(78.5).
Mayer Multiple 0.8776 The Mayer Multiple has further decreased from 0.9116 to 0.8776. This indicates that the price is below the 200-day moving average ($86,899) and approaching an undervalued area.
MACD -627.97 The Moving Average Convergence Divergence (MACD), which determines trend direction and potential reversal, is -627.97 on a daily basis and -3372.74 on a weekly basis. This suggests continued downward pressure with no upward reversal signal yet.
๐งญ Market Now
Active Addresses 742,319 Bitcoin active addresses decreased from 779,080 to 742,319. Network activity is declining, suggesting cooling market participation.
SSR 12.35 The Stablecoin Supply Ratio (SSR) dropped from 13.34504436 to 12.34994547. Generally, an SSR above 10 indicates insufficient standby funds, while below 6 suggests sufficient buying capacity.
OBV 15.6k The On-Balance Volume (OBV), indicating Bitcoin's fund flow based on trading Volume, decreased from 16.09k to 15.6k. This suggests weakening buying momentum.
NUPL 42.64% NUPL dropped from 44.67% to 42.64%, indicating reduced unrealized profits and contracted investment sentiment.
MVRV 1.43 The Market Value to Realized Value (MVRV) decreased from 1.56 to 1.43. This means the total market value is 43% higher than the average purchase price. Generally, MVRV below 1 indicates losses, and above 3 suggests an overheated market. The market value is higher than the realized value, but upward potential remains limited.
โค๏ธ Investment Sentiment Now
Dominance 62.50% Bitcoin's market capitalization proportion in the entire cryptocurrency market increased by 2.19 percentage points to 62.50%. Rising dominance indicates Bitcoin preference, while declining dominance suggests altcoin preference.
Fear & Greed Index 15 (Extreme Fear) The CoinMarketCap Fear & Greed Index, which quantifies market investment sentiment on a 0-100 scale, pointed to 15. Following the previous day's 19, the extreme fear phase continues, indicating an unstable market.
Google Trend Score 69 The Google Trend score reflecting Bitcoin search Volume dropped from 72 to 69, showing a slight decline in public investment sentiment.
Exchange Balance 2,192,436 BTC Bitcoin deposited on exchanges increased by 0.22% from the previous day and decreased by 0.13% from the previous week, totaling 2,192,436 BTC ($16.925 billion). Increased exchange balance suggests a spreading waiting-to-sell sentiment.
Wallet Inflow/Outflow +4.36K BTC On the 9th, 4,360 BTC flowed into external wallets, indicating a shift back towards holding. On the 8th, 32.33 BTC flowed out of wallets.
๐ค Today's Commentary
Analysis "Bitcoin's Next Support Level is $70,000"
Chris Burniske, former cryptocurrency head at ARK Invest and managing partner of blockchain venture capital Placeholder, diagnosed that "if BTC falls below the $76,000 level again, the next major support level is $70,000". He emphasized, "The $70,000 level is a strong support line that overlaps with the 2021 bull market high and the box range's upper bound from March to October 2024. While the market might fear further decline upon reaching this price, it's advisable to buy incrementally."
[This article does not provide financial advice, and investment results are the sole responsibility of the investor.]
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