A popular Bitcoin analyst is saying that the cryptocurrency is no longer looking bearish, thanks to some positive indicators.
Key Indicators Point to a Shift
The analyst, known as Checkmate, pointed to several key indicators that are flashing green:
- Active-Value-to-Investor-Value (AVIV) Ratio: This ratio, which measures the difference between the active capitalization and the realized capitalization of Bitcoin, has moved from a downtrend to a neutral signal. This suggests that Bitcoin is no longer considered overbought or oversold.
- Short-Term Holder (STH) Supply:
The amount of Bitcoin held by investors for less than 155 days is starting to show bullish signs. This means that recent buyers are likely back in profit, which could improve overall sentiment.
- Correlation with Gold and Stocks: Bitcoin is currently moving in tandem with gold and stocks, which are both in an uptrend. This suggests that Bitcoin is benefiting from the overall positive market sentiment.
What Does This Mean for Bitcoin?
While the analyst isn’t calling for a full-blown bull run, the shift from bearish to neutral is a positive sign for Bitcoin. It suggests that the market is becoming more stable and that investors are becoming more confident.
Remember:
This is just one analyst’s opinion, and the cryptocurrency market is notoriously volatile. It’s always important to do your own research before making any investment decisions. /p>
