Bitcoin Set for Major Bull Run? These 3 On-Chain Metrics Signal A Turning Point
2024年9月24日 - 2:00PM
NEWSBTC
Recent data from CryptoQuant has revealed that Bitcoin may be on
the cusp of a significant recovery, supported by key on-chain
metrics. Particularly, according to a CryptoQuant analyst under the
pseudonym Darkfost, several indicators are reaching crucial support
levels, signaling a “potential long-term bullish shift.” These
metrics suggest that Bitcoin’s price could experience substantial
growth as market sentiment turns more optimistic. Related Reading:
Is Bitcoin Heading For A Bear Market? Analysts Weigh In On The
Price Struggles Key On-Chain Metrics Pointing To Recovery One of
the primary indicators the analyst highlights is the 7-day Simple
Moving Average (SMA) of the Fund Flow Ratio. Currently at 0.05,
this metric has historically acted as a major support line. When it
reaches this level, it often marks the end of a bear market or
signals the beginning of a new bullish phase. The fact that the
Fund Flow Ratio is now showing a slight rebound, according to data
revealed by Darkfost suggests that investors are becoming more
active on exchanges, a positive sign for Bitcoin’s future price
trajectory. In addition to the Fund Flow Ratio, the 30-day SMA of
the Estimated Leverage Ratio is another key metric showing signs of
recovery. The leverage ratio, which has formed a support range
between 0.15 and 0.175, is trending upwards. This indicator
measures the use of leverage in Bitcoin trading, and a rise often
indicates increased market confidence. Darkfost highlighted that
the approval of futures exchange-traded funds (ETFs) and recent
developments in Bitcoin options trading would contribute to the
“growing influence” of this metric. Another critical metric
Darkfost outlined is the 30-day Exponential Moving Average (EMA) of
Binary Coin Days Destroyed (CDD). This indicator tracks the
movement of long-term Bitcoin holders, and when it rises sharply,
it usually signals the “end of a bull market,” according to the
CryptoQuant analyst. This metric fluctuates between 0.1 and 0.3,
indicating that long-term holders are accumulating Bitcoin.
Notably, this trend suggests that seasoned investors are
positioning themselves for potential future gains, which could
further boost Bitcoin’s price in the coming months. Related
Reading: Bitcoin To Outshine Gold By 400% By 2025, Veteran Analyst
Predicts Bitcoin Positive Long-Term Outlook The analysis concludes
with a focus on the long-term outlook for Bitcoin. The CryptoQuant
analyst believes that the recent movements in on-chain metrics are
a positive signal for Bitcoin’s long-term growth. His conclusion
read: I prefer to observe on-chain data from a long-term
perspective. These support levels and recent movements are very
positive from a long-term standpoint. As revealed in the report,
the support levels identified in the Fund Flow Ratio, Leverage
Ratio, and Binary CDD all point towards the conclusion of the bear
market, with increasing momentum building for a future bull run.
However, the timing and magnitude of the potential price increases
remain uncertain. Featured image created with DALL-E, Chart from
TradingView
Quant (COIN:QNTUSD)
過去 株価チャート
から 8 2024 まで 9 2024
Quant (COIN:QNTUSD)
過去 株価チャート
から 9 2023 まで 9 2024