Bitcoin Falls To ‘Bottom Discovery’ Zone — What Does This Mean?
Bitcoin continues to trade within a narrow range, hovering around $66,500 going into the week. While price action still appears subdued, recent on-chain data suggests this period of consolidation could be signaling the formation of a market bottom. Supply In Profit Drops To 11.3 Million BTC In a Quicktake post on the CryptoQuant platform, on-chain […]
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Ethereum has seen some slight momentum over the past 24-hours that has pushed its price towards $380 This is a critical level that has historically sparked both uptrends and downtrends Whether or not this level is broken above in the near-term will provide serious insights into the crypto’s outlook One analyst is noting that its mid-term market structure is incredibly bullish, and that it is likely to lead it into “price discovery” in 2021 As […]
Data shows the Bitcoin MVRV ratio has gone down recently, but the metric’s value is still above the historic bottom zone. Bitcoin MVRV Ratio Observes Decrease, But Value Still Greater Than 1 As explained by an analyst in a CryptoQuant post, BTC may still have room for further decline before the bottom is in. The […]
Bitcoin price is down nearly $10,000 from its 2021 high, but thus far support at $30,000 has held strong. As analysts search for a sign that the bottom of the current correction is in, one important fundamental factor matches up almost perfectly with the December 2018 bear market bottom. Is this the end of the correction and the uptrend will soon resume? Here’s what you need to know. Bitcoin On Exchanges Falls to Lowest Point […]
On-chain data shows the percentage of the Bitcoin supply aged between one week and one month old has now declined to the historical bottom zone. Only 3.8% Of The Total Bitcoin Supply Is Now In The 1 Week To 1 Month Old Bracket As pointed out by an analyst in a CryptoQuant post, short-term buying […]
Recent on-chain data shows that the Bitcoin price is currently at an important phase, raising suspicions as to whether the market is nearing a cyclical bottom. Mayer Multiple Falls To 0.6 — What This Means In a recent Quicktake post on the CryptoQuant platform, on-chain analyst Ruga Research pointed out that the Bitcoin price now has a 40% negative deviation from its 200-day moving average. This on-chain observation revolves around the Bitcoin Mayer Multiple. Related Reading: Bitcoin Drifts Into A Deep Conviction Zone, Smart Money Stays Patient For context, the Mayer Multiple metric....