Bitcoin's Max Intersect SMA Model has crossed the $60,140 mark, a level historically associated with approaching market cycle tops. This indicator, noted by Alphafractal, often precedes a sell-off when Bitcoin reaches $69,000, as observed in previous cycles in 2017 and 2021. Currently, Bitcoin's price is near $123,000, with institutional inflows reaching $3.2 billion over the past week.
Despite the bullish price action, the Futures Taker CVD indicates bearish dominance, and a sharp drop in UTXO in Loss suggests increased profit-taking pressure. These factors point to a potential market correction, with traders shifting towards more defensive positions.
Bitcoin's Max Intersect SMA Model Signals Potential Cycle Top
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