Bitcoin Leaves Realized P/L "Panic Zone", While Realized Cap Inflows Stay Muted

Bitcoin’s on-chain signals have improved, with the Realized Profit/Loss Ratio moving out of the "panic zone" as highlighted by CryptoQuant author Axel Adler Jr. The analyst also noted Realized Cap has turned upward and its 30-day change is slightly positive, indicating modest net inflows over the past month. BTC price action has remained rangebound, hovering near $81,000.