Bitcoin News
By Evie Vavasseur
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Bitcoin [BTC] continues to show signs of bullish strength, but subtle cracks in its on-chain fundamentals are beginning to raise caution flags.
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Still, bullish sentiment cannot exist in a vacuum. While Bitcoin’s price structure remains technically sound, on-chain activity is showing signs of fatigue.
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One of the key metrics offering a glimpse into market behavior is the Net Realized Profit/Loss (NRPL). This indicator rose by 2.
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However, there are emerging signs of potential weakness. Data from Santiment shows that Bitcoin’s transaction count has dropped to 85.9K, while network growth has dipped to 65.8K.
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At the same time, sentiment around Bitcoin is heating up. Social Dominance for BTC surged to 34.92%, its highest level in 2025 so far.
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From a technical perspective, Bitcoin’s structure still leans bullish. At the time of writing, BTC is trading above both the 9-day and 21-day Exponential Moving Averages (EMAs),…
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But there’s also the chance that BTC remains range-bound in the short term. Without a decisive break or a significant pickup in trading volume, sideways movement may dominate.
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In essence, Bitcoin remains in a cautiously bullish state. The MVRV rebound, healthy price structure, and moderate profit-taking all support a continuation of the trend.
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For now, BTC holders can take comfort in the fact that the market hasn’t shown signs of panic or mass exit. But it’s clear that momentum is beginning to thin out.
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