Historically accurate Bitcoin metric exits buy zone in 'unprecedented' 2022 b...
Bitcoin has historically profited from Puell Multiple lift-offs, but unique macro conditions mean what happens next is uncertain. Bitcoin (BTC) is enjoying what some are calling a "bear market rally" and has gained 20% in July, but price action is still confusing analysts.As the July monthly close approaches, the Puell Multiple has left its bottom zone, leading to hopes that the worst of the losses may be in the past.Puell Multiple attempts to cement breakoutThe Puell Multiple one of the best-known on-chain Bitcoin metrics. It measures the value of mined bitcoins on a given day compared to....
Related News
Exciting action for the historically accurate metric lays the foundation for a new cycle to a price peak. Bitcoin (BTC) losing over 50% in a month may have a big silver lining as lower prices set up a classic bull flag.On Thursday, Philip Swift, creator of the Pi Cycle Top indicator, said that this year could still see a major Bitcoin price high. BTC price drop’s saving grace?Pi Cycle Top uses two moving averages — the 111-day and the 350-day multiplied by 2 — to determine likely market tops with an error range of just three days. It has proven extremely accurate, and current conditions....
Bitcoin has exploded higher over the past few weeks amid mass institutional and retail buying pressure. There are some that are calling for a correction, though. A historically accurate analyst recently said that Bitcoin may soon be sent to “$15,500-16,000.” Another analyst agreed with this sentiment, noting that BTC is breaking below a parabolic uptrend. Bitcoin Could Be Preparing For a Correction, Analysts Say Bitcoin has exploded higher over the past few weeks amid mass […]
Capriole Investments founder Charles Edwards says Bitcoin has moved into a historically attractive accumulation area, but not yet the kind of deep-discount zone that defined the best buying opportunities of prior cycles. In his view, the setup is constructive for long-term holders, though still lacking the confirmation needed to call a durable bottom. Speaking with Crypto Consulting Institute’s Joe Shew, Edwards framed Bitcoin as “closer to the bottom than the top,” with multiple on-chain metrics pointing to value even as price action remains damaged. He stopped short, however, of calling....
On-chain analytics firm Santiment has highlighted how the average Bitcoin returns of the buyers from the past year are looking similar to late 2022. 365-Day Bitcoin MVRV Ratio Has Plunged Recently In a new post on X, Santiment has talked about the latest trend in the Bitcoin Market Value to Realized Value (MVRV) Ratio. This on-chain indicator measures the ratio between the market cap of the asset and its Realized Cap. The Realized Cap here refers to a capitalization model that calculates the total value of the cryptocurrency by assuming that the ‘real’ value of each token in....
Key Bitcoin indicators tracking its market versus fair value, as well as long-term holders' confidence, hint at a market bottom formation. Bitcoin (BTC) and other riskier assets slipped on Oct. 21 as traders scrutinized macro indicators that suggest the Federal Reserve would continue to hike rates. Nonetheless, the BTC/USD pair remains rangebound inside the $18,000–$20,000 price range, showing a strong bias conflict in the market.BTC price holding above $18K since JuneNotably, BTC's price has been unable to dive deeper below $18,000 since it first tested the support level in June 2022. As....