On-chain analyst Axel Adler Jr. noted on the 26th that the realized profit and loss ratio (P/L ratio) of Bitcoin (BTC) has exceeded the neutral level of 1 based on a 90-day moving average.
The realized P/L ratio compares the amounts of profits taken and losses realized on moved coins. A ratio above 1 indicates dominance of profit-taking, while a ratio below 1 suggests dominance of loss realization. According to Adler, this is the first time the ratio has surpassed this benchmark since late July, when BTC was at...