最新报道:According to CryptoQuant analyst Axel Adler Jr., the problem in the late stages of a bull market lies in a decline in investor risk appetite, according to a report published on August 4th. Data shows that the indicator surpassed 1.9 in March and December 2024, but is currently forming lower peaks, with holders actively selling and putting pressure on the market. While investors continue to take profits, the marginal premium on the cost basis offered by each new price increase is shrinking. Given the Federal Reserve's projected two rate cuts this year, analysts predict two more price increases in this cycle, after which selling pressure will outstrip demand and the market will enter a correction phase.