Here Are Three On-Chain Signals That Suggest Bitcoin (BTC) Bear Market Is Over, According to Glassnode

Here Are Three On-Chain Signals That Suggest Bitcoin (BTC) Bear Market Is Over, According to Glassnode


Blockchain analytics firm Glassnode is offering three on-chain indicators that suggest the Bitcoin (BTC) bear market is in the rearview mirror.

Glassnode first looks at the stablecoin supply ratio (SSR), which tracks the rotation of capital between Bitcoin and stablecoins.

A spiking SSR suggests that investors are taking the plunge as they use stablecoins to purchase BTC.

Trending: BREAKING: Brunson Brothers Case Is Back On!

According to Glassnode, the metric shows that capital is rotating into Bitcoin from stablecoins, reminiscent of the final chapter of the 2018/2019 bear market.

“Currently, we note a significant transfer of capital to the Bitcoin asset, akin to the twilight of the 2018 bear market and the 2021 rounded top.”

Source: Glassnode/Twitter

Glassnode also points out Bitcoin’s realized profits-to-value ratio (RPV) indicator, which compares profit-taking in the market against

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend