On-chain data shows a Bitcoin metric is approaching a crucial retest that can make or break a rally. Will the bulls come out on top? Bitcoin Short-Term Holder Realized Profit/Loss Ratio Is Nearing 1 Level According to data from the on-chain analytics firm Glassnode, a successful retest here would be constructive for the price of the asset. The indicator of interest here is the “realized profit/loss ratio,” which measures the ratio between the profits and losses that Bitcoin investors throughout the network are realizing right now. The metric works by going through the on-chain history of each coin being sold to see what price it was last acquired at. If this previous price for any coin was less than the BTC value that it’s now being sold/moved at, then the coin’s sale is said to be realizing some amount of profit. Naturally, the opposite case would imply that loss realization is occurring with the coin’s movement. The metric takes the sum of all such profits and losses being harvested in the market ..
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