The Bitcoin market has been a bit sluggish lately, making some wonder if the bull run is over. But there’s one metric that could give us a clue.
Mean Dollar Invested Age
This metric tracks how long Bitcoin has been sitting in the same wallets. When it’s going up, it means investors are holding onto their coins and not selling. But when it’s going down, it means coins are moving back into circulation.
What History Tells Us
In past bull runs, Bitcoin’s Mean Dollar Invested Age has gone down. This is what we’ve seen in the current bull run as well, until recently.
The Halving Factor
The Bitcoin halving is coming up soon, which is usually a bullish event. But the Mean Dollar Invested Age has been flat lately, which is a bit surprising.
What to Watch For
If the Mean Dollar Invested Age starts going down again, it could be a sign that the bull run is about to resume. This would mean that whales and other big players are starting to move their coins again.
Current Bitcoin Price
As of writing, Bitcoin is trading around $66,548, down 6% in the past 24 hours.
