Analyst: Bitcoin Currently in Mid-Cycle, Extreme Fear Sell-Off Easing

BlockBeats News, March 7, Cryptocurrency market analyst Axel Adler Jr. posted on social media, stating, "Bitcoin is currently in the mid-term phase of this cycle. The NUPL–MVRV Harmonic Composite Indicator is at 0.33, while the bottoms of the past few cycles have typically occurred near the -0.5 level.

The indicator also shows that the cycle low is gradually rising, indicating that the extreme fear sell-off in the market is weakening. However, the indicator is still significantly above the historical bottom range, so the market has not yet confirmed a widespread capitulation sell-off."