Analyst: Bitcoin is currently in a neutral range, neither overbought nor oversold

Odaily News CryptoQuant analyst Axel Adler Jr wrote, "The Bitcoin indicator distributed by realized supply shows how expensive Bitcoin's current price is relative to the actual investment cost of all holders. Realized supply refers to the total dollar value of all Bitcoins at the time of their last transfer on the chain. The calculation formula is: Bitcoin Price/Realized Supply = Ratio. Currently, the price of Bitcoin is slightly above the average annual ratio level (which is similar to November 2024, when the ratio was also at this level, and then Bitcoin rose from $74,000 to $107,000). This means that Bitcoin is neither overbought nor oversold at present - the market is in a neutral range."