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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/insights-on-bitcoins-potential-decline-and-recovery-indicators/" data-wpel-link="internal">Insights on Bitcoin’s Potential Decline and Recovery Indicators</a><br></p>
<p style="text-align: justify">According to signals from the Coinbase Premium Index, <a href="https://en.coin-turk.com/blackrock-eyes-bitcoin-etf-application-a-turning-point-for-crypto-market/" data-wpel-link="internal">Bitcoin</a> (BTC) might experience another decline. This index shows the level of buying pressure among <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a> in the USA, and it is particularly important to monitor this metric closely due to the large number of Bitcoin holders in the country.</p> 
<h2 id="data-from-coinbase-premium-on-bitcoin">Data from Coinbase Premium on Bitcoin</h2> 
<p style="text-align: justify">Analysts suggest that high premium values indicate increasing buying pressure. On the other hand, low values in the Coinbase premium index could signify an increase in selling. According to data from CryptoQuant, when this article was written, the index was at -0.050. This situation could indicate that many US Bitcoin holders are selling their tokens instead of accumulating more. CryptoQuant author Signal Quant made critical comments about the trend. According to the expert, the current state of this leading indicator could mean that Bitcoin’s price might face another correction before a significant rise. The expert stated the following:</p> 
<blockquote> 
 <p style="text-align: justify">The current Coinbase Premium trend is now positive, close to zero. Therefore, if the historical model repeats itself, waiting a bit longer and <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investing</a> in recovery after the trend turns negative could increase our chances of success.</p> 
</blockquote> 
<p style="text-align: justify">When this article was written, BTC’s price had increased by 2.94% in the last 24 hours to $62,785. However, this downward outlook could become invalid if users in the USA start making large purchases. Nevertheless, analysts also evaluated other measurements to confirm that surpassing Bitcoin’s current peak might take more time.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-350958 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btcccci.jpg" alt="" width="1273" height="396"></p> 
<h2 id="reports-from-messari-on-btc">Reports from Messari on BTC</h2> 
<p style="text-align: justify">If the Sharpe ratio is positive, this could mean that the potential return on <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investment</a> (ROI) is high compared to the associated risk. Additionally, a negative Sharpe Ratio could indicate that the possible reward might not be worth the risk. The blockchain analytics platform Messari showed a reading of -2.22 for Bitcoin, indicating a similar situation. However, when the metric rises to the zero midpoint, BTC returns could start to increase.</p> 
<p style="text-align: justify">On the other hand, Bitcoin’s total profit supply was 87.03%. A significant jump might require this percentage to drop, and a reasonable point could be 78.20%. This was the same profit supply Bitcoin had before its recovery in March. If the supply drops to a similar level, BTC could start a rise that might push it above $75,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/insights-on-bitcoins-potential-decline-and-recovery-indicators/" data-wpel-link="internal">Insights on Bitcoin’s Potential Decline and Recovery Indicators</a></h5>

Insights on Bitcoin’s Potential Decline and Recovery Indicators

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