CryptoQuant Analyst: Bitcoin BPT Remains at a Moderate Level of 2.56, Caution Advised for Routine Pullback Risks Amid Uptrend

According to ChainCatcher, CryptoQuant analyst Axel Adler Jr tweeted that although Bitcoin's price has reached a new all-time high, the BPT indicator remains at a moderate level of 2.56, below the previous local high of 3.57.

At the same time, the Realized P&L Ratio is still at an average level, indicating that the current market risk is relatively low compared to previous overheated periods. From a technical perspective, the price remains above the 4-year moving average and its two standard deviations, confirming the continuation of the upward trend.

The analyst pointed out that caution is needed regarding the risk of regular pullbacks during the uptrend, and a BPT breakout above 3.0 could signal the market is entering a later stage.