Bitcoin on-chain and futures market data point to new investors entering the market and a much healthier ecosystem now that over-leveraged speculators have been washed out.
But fresh on-chain and futures market data show positive signs that the leading cryptocurrency by market capitalization has started to recover.
A large group of investors that were previously at a loss is now back in the category that Glassnode analysts label as “unrealized profits.”Futures data typically hold an equilibrium between longs and shorts. As the market moves, investors tend to update their futures to avoid liquidation. Conversely, in mid-January investors were caught off guard which resulted in an all-time high of 85% short liquidations.The short liquidation dominance has helped fuel the current Bitcoin rally.
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