Black_Belt 7 minutes reading from Bitcoin

What Do They Think about the $BTC Price?

Some interesting data about BTC (please retweet ๐Ÿ™‚) Make your own conclusion, I have mine Funding rates are red since last week

Capitulation could be hit last week (see the volume on the chart = 1,4 trillion in 4 days ๐Ÿคฏ). Open interest is still may be too high 1/10 ๐Ÿงต๐Ÿ‘‡

BTC on exchanges are dropping (Accumulation) BTC inflow, many spikes since LUNA crash USDT and USDC dominance (crypto market cap) = >13% meaning top is soon? 2/10

BTC : Long Term Holder SOPR Values below '1' indicate more long-term investors are selling at a loss. Currently, we are below the covid crash and 0.6 so very low level since Luna crash. 3/10

BTC MVRV Ratio The ratio of coins Market Cap to its Realized Cap which indicates whether the price is overvalued or not. Historically, Values over '3.7' indicated price top and values below '1' indicated price bottom. Currently we are lower than the covid crash at 0.8 4/10

BTC Realized Price It measures the average price weighted by the supply of what the entire market participants paid for their coins. It can be interpreted as the on-chain support or resistance price. Currently, we are below. If we go back above soon, it would be positive. 5/10

BTC NUPL It could be interpreted as the ratio of investors who are in profit. Values over 0 indicate investors are in profit and an increasing trend in value means more investors are beginning to be in profit. Currently, we are in a capitulation phase. 6/10

BTC Puell Multiple The ratio of the value of coins daily issuance to its yearly average which indicated clear buy and sell areas after logarithmized. Values over '6' indicate possible top and under '0.4' indicate possible bottom. Low at 0,348 in July 7/10

BTC Supply in loss The sum of UTXO value being in loss by comparing the price between created and destroyed. Increasing trend in value means investors who are beginning to be in loss in ratio is increasing. Currently we are close to the covid top. 8/10

BTC Fear and Greed index Currently we are higher than LUNA crash but since that period we are in Fear or Extreme Fear. I identified a trend line that we can't break. 9/10

Thank you for reading. Sources: Glassnode, Cryptoquant, alternative, coingecko 10/10

This post is based on this twitter thread.


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