Robert Kiyosaki praised Bitcoin on social media, describing it as the "easiest millions" he has ever made.
A pure genius asset design
Kiyosaki, known for his extensive financial knowledge, compared his difficult journey in real estate, which he said involved hard work, sleepless nights, and significant risk, to what he described as the easy returns from his investment in Bitcoin.
Kiyosaki wrote: "I couldn't believe how easy it was to get rich using Bitcoin," adding that all he did was some simple research and invested a few dollars. "No mess, no stress. Just set it and forget it," praising Bitcoin and describing it as a "genius asset design."
But the on-chain data tells a different story
However, Kiyosaki's bullish view on Bitcoin comes at a time when the market is entering a cooling phase after a strong rise.
According to Glassnode, a company specializing in cryptocurrency chain analysis, the Bitcoin market is entering a phase of cautious reevaluation. Momentum indicators in spot, futures, options markets, and exchange-traded funds are showing warning signals.
In the spot trading market, Bitcoin's Relative Strength Index (RSI) has dropped into the oversold territory, while cumulative volume delta (CVD) data shows an increase in selling pressure. Liquidity is also declining, with daily trading volume dropping from $8.4 billion to $7.5 billion.
What are the warning signs?
On-chain data presents a mixed picture. While active addresses are increasing and capital flows remain stable, trading volume and fees are declining. Short-term profitability metrics, such as NUPL and Realized Loss/Profit, are also decreasing, reflecting a downturn in profit-taking.
Glassnode indicates that while a technical recovery is unlikely, the market overall remains fragile. Any sustainable rebound may require a strong external catalyst.
