BlockBeats News, March 7th, Cryptocurrency market analyst Axel Adler Jr. posted on social media, stating, “Bitcoin is currently in the mid-stage of this cycle. The NUPL–MVRV Harmonic Composite Indicator is at 0.33, and the bottoms of the past few cycles have usually occurred close to the -0.5 level.”
This indicator also shows that the cycle low is gradually rising, indicating that the market’s extreme fear selling is weakening. However, the indicator is still significantly higher than historical bottom levels, so the market has not yet confirmed a widespread capitulation sell-off.”
