Technical Pattern Points to Price Surge
A crucial Bitcoin metric, the Stablecoin Supply Ratio (SSR) Oscillator, has turned bullish, indicating a potential rally for the world’s largest cryptocurrency.
SSR Oscillator Explained
The SSR Oscillator compares the supply of stablecoins to Bitcoin to assess market sentiment. When the oscillator falls below the lower Bollinger Band, it suggests reduced stablecoin dominance and bullish sentiment.
Recent Market Movements
The SSR Oscillator is currently in the “cold zone,” indicating a potential bullish outlook for Bitcoin.
Additional Bullish Indicators
Small traders are liquidating their BTC holdings, which has historically been a positive sign for Bitcoin.
Current Market Value
At the time of writing, Bitcoin is trading at $66,955, up 8.94% in the last seven days and 4.25% in the past month.
