With Bitcoin The analysis of important on-chain information provides invaluable insights into the fundamental health of the markets. By Investors can prepare better for upcoming market peaks and retracements by understanding these metrics.
Terminal Price
The Terminal Price Metric, which includes the Coin Days Destroyed Factoring in (CDD). Bitcoin’s supply, has historically been a reliable indicator for predicting Bitcoin The cycle peaks Coin Days Destroyed The velocity at which coins are transferred is measured by taking into account both the amount of coins and their holding time. Bitcoin moved.
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CurrentlyAs the cycle advances, it is expected that the price of the final product will rise towards $200,000 With Bitcoin Already breaking $100,000 suggests there may be several months more of price increases ahead.
Puell Multiple
The Puell Multiple The daily revenue of the miner (in USD), compared to its moving average over a 365-day period. After The halving of the event caused a dramatic drop in revenues, resulting in a period where miners had to consolidate.
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NowThe Puell Multiple The index has returned to 1, signaling that profitability is returning for the miners. HistoricallyThe price rally is often accompanied by an exponential rise in the event that this threshold is exceeded. During all previous bull runs, a similar pattern could be observed.
MVRV ZScore
The MVRV ZScore The market value is the difference between the cost and the actual value. Bitcoin holders). Standardized into a Z-Score to account for the asset's volatility, it’s been highly accurate in identifying cycle peaks and bottoms.
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Currently, Bitcoin’s MVRV Z-Score remains below the overheated red zone with a value of around 3.00, signaling that there’s still room for growth. While The Z-index has shown a recent trend of decreasing peaks.Score This suggests that we are still a long way from a market peak.
Active Address Sentiment
This Metric tracks the percent change in the active network address over 28 days, alongside price changes. When When price growth exceeds the level of network activity, the market could be overbought in the short term, because the price rises may not be sustained given the high network utilization.
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Recent After a cooling, data show a minor drop in temperature. Bitcoin’s rapid climb from $50,000 to $100,000, indicating a healthy consolidation period. This The pause in growth is not a sign that we need to be bearish on the medium- or long-term.
Spent Output Profit Ratio
The Spent Output Profit Ratio Measures of realized profit (SOPR). Bitcoin transactions. Recent The data indicates a possible increase in profit taking, possibly indicating that we’re entering the last stages of this cycle.
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One The growing popularity of Bitcoin ETFs are derivative products. Investors The SOPR could increase in value if people are moving from ETFs, for tax reasons and ease of usage.
Value Days Destroyed
Value Days Destroyed (VDD) Multiple Expands CDD by weighing larger and long-term investors. When this metric enters the overheated red zone, it often signals major price peaks as the market's largest and most experienced participants begin cashing out.
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While Bitcoin’s current VDD levels indicate a slightly overheated market, history suggests it could sustain this range for months before a peak. For example, in 2017, VDD indicated overbought conditions nearly a year before the cycle’s top.
Conclusion
Taken These metrics indicate that Bitcoin The bull market is nearing its end. While While some indicate that the market may be cooling down or overextended in the near term, many other indicators show that it will continue to rise until 2025. Key As we get closer to the top, metrics such as SOPR or VDD will provide clearer indications.
For For a closer look, watch this video on YouTube. What's Happening On-chain: Bitcoin Update
Disclaimer: This This newsletter contains information only. It is not intended to be a source of financial advice. Always Make sure you do some research on the investment before you make any decisions.
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