3 historically accurate Bitcoin on-chain metrics are flashing 'bottom'
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....
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Predicting the bitcoin bottom is something that is done with much fervor by investors in the space since it often means more profit if they can accurately catch the bottom. It often proves to be a difficult task but using blockchain metrics can provide some guidance. Presently, these blockchain metrics have fallen to new lows, […]
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....
Ethereum and Solana are gradually demonstrating bullish movements following a rebound on Tuesday, but the broader outlook still appears to be bearish. On-chain metrics are flashing caution as selling pressure continues to dominate among investors of ETH and SOL, suggesting an extension of the ongoing volatile market. Market Balance Tilts Bearish For Ethereum And Solana […]
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 Sunday, XRP staged a bounce to the $2.1 price level, flipping the market into a bullish atmosphere. However, on-chain metrics are flashing conflicting signals as the market splits between bullish and bearish narratives due to a disparity in investors’ actions on major exchanges. A Two-Sided XRP Market Mood Emerges XRP, a leading altcoin, has […]