Bitcoin Market Enters Neutral Zone, On-Chain Data Shows

Summary: Recent on-chain indicators suggest that Bitcoin has entered a phase of market equilibrium, with buying and selling pressures evenly balanced. Key metrics highlight investor caution, signaling potential for consolidation in the near term.

90-Day CVD Indicator Signals Market Balance

Crypto analyst Maartunn reported on June 27 via X (formerly Twitter) that the 90-day Futures Taker Cumulative Volume Delta (CVD) for Bitcoin has flattened. This indicator tracks net buying or selling pressure in the BTC futures market by comparing aggressive buying versus selling activity.

When the CVD is positive and rising, it signals buyer dominance. Conversely, a negative value indicates stronger selling pressure. The current flat trend suggests that neither bulls nor bears are in control—pointing to a neutral market state.

Although Bitcoin’s price has seen recent signs of recovery, the stagnant CVD metric implies that the cryptocurrency may re-enter a consolidation phase amid uncertainty in market direction.

Fear and Greed Index Confirms Cautious Sentiment

In a separate June 27 post on X, crypto analytics platform Alphractal highlighted a similar market sentiment using the Bitcoin Fear and Greed Index Heatmap. This metric gauges investor emotions on a scale from 0 (extreme fear) to 100 (extreme greed).

Currently, the index sits at 65—categorized as “greed” but far below the “extreme greed” levels above 90 seen in late 2024. This suggests a reduced appetite for risk and a more cautious stance among investors. The balanced sentiment may point to a market waiting on external catalysts, such as macroeconomic updates or blockchain developments, to determine its next move.

Market Price Update

As of the latest data, Bitcoin is trading around $107,143, marking a marginal 0.11% decline over the past 24 hours. The current neutral market tone implies limited short-term directional momentum, with many traders awaiting further signals before re-entering positions.

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