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Polygon’s POL holds $0.10 support as 100 million tokens are burned and key metrics shift
Polygon’s POL token was trading near $0.108, holding the $0.10 support after a 4.06% daily gain and a 17% rise in volume. The network recently burned 100 million POL in a major deflationary move, while indicators like Stochastic RSI, Stock-to-Flow Ratio, and exchange supply ratio pointed to a tug-of-war between bullish momentum and elevated selling pressure.
POL
POL-3.08%
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Bitcoin metrics hint at $60K cycle low as Sharpe Ratio sinks to -38 and scarcity hits record
Bitcoin fell to a low of $60,000 after flashing a sell signal near $95,000, and was trading at $66,988 with a 1.75% daily loss and a 46% drawdown from its $126,000 peak. Key on-chain and market metrics, including a Sharpe Ratio of -38, an all-time high Stock to Flow Ratio rising from 127 to 261, and the MVRV Z Score dropping to $0.445, suggest a possible cycle bottom even as price consolidates between $65,000 and $70,000. Despite extreme bearish sentiment and weak market structure, heightened scarcity and historical patterns could set the stage for a future recovery if selling pressure eases.
BTC
BTC-0.17%
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