BTC panic selling has ended, but trend reversal awaits capital inflow, analyst says

Bitcoin has moved past its panic selling phase, but a full trend reversal has not yet occurred due to capital inflows being about 98% weaker than during the 2024 bull market, according to on-chain analyst Axel Adler Jr. Adler noted that the Realized Profit/Loss Ratio recovered to 1.13 on May 10, exiting the loss-making phase after a panic period from Feb. 5 to March 21 when the ratio was below 0.5. However, he pointed out that while the 30-day moving average of the Net Realized Cap Change crossed above zero on May 2, it only reached +0.008%. This is extremely weak compared to the expansion phases of March 2024 (+0.534%) and December 2024 (+0.472%). "The market is currently in a modest recovery stage," Adler added, stating that an accelerated rise in the Net Realized Cap Change indicator will be the "key trigger for a confirmed recovery."