BTC buying pressure shows signs of recovery as key momentum indicator turns positive

Bitcoin's 90-day market price to realized price slope oscillator has turned positive again at 0.07, suggesting a recovery in buying pressure, according to an analysis by CryptoQuant contributor RugaResearch. The indicator measures the rate of change between market price and realized price over 90 days, with a negative reading indicating that the market price is weak compared to the average investor's purchase price. The contributor noted that the indicator fell to -3.22 on Feb. 5, dropping below the -2 standard deviation, but has since rebounded by more than three points in less than a month to enter positive territory. Currently, Bitcoin is trading at around $70,000, approximately 25% higher than its realized price of $54,500. However, RugaResearch added that the 365-day simple moving average (SMA) for the indicator is still at -0.22, meaning long-term momentum has not yet been confirmed.