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Bitcoin's price surged past $118,000 on July 11, a new all-time high for BTC. In particular, this rally saw $2.42 billion in shorts liquidated, the highest daily loss for shorts in more than 2 years.
The Glassnode Long-Term Holder Net Unrealized Profit and Loss (NUPL) ratio is currently at 0.69, below the "Euphoria Zone," which is identified as being >0.75. This means that most holders are in profit, but we are still not in the range of establishing extreme greed.
Julio Moreno, the Head of Research at CryptoQuant, emphasized the low selling pressure that accompanied the price increase. "Total daily Bitcoin exchange inflows are at an unsettling low: 18,000 BTC, the lowest amount since April 2015."
Moreno...