Analysis: Three indicators signal a potential BTC rebound

An analysis from Cointelegraph suggests that Bitcoin is showing signs of a rebound after recently bottoming out at $108,000. The outlet pointed to three key indicators signaling a potential recovery. The BTC Correction Flow indicator has fallen below 250,000, which Cointelegraph interprets as a good buying opportunity. Additionally, the Spent Output Profit Ratio (SOPR), an on-chain metric gauging whether holders are selling at a profit or loss, has dropped to 1.5, a level consistent with previous market bottoms. The Net Unrealized Profit/Loss (NUPL) for short-term holders has also turned negative, signaling a potential halt to selling pressure. From a technical standpoint, Cointelegraph added that the formation of a double bottom pattern points to a short-term price target of $124,000.