A widely followed crypto analyst says that one key on-chain indicator is pointing toward a cyclical bottom for Bitcoin (BTC).
In a new video update, crypto analyst Benjamin Cowen tells his 774,000 YouTube subscribers that Bitcoin’s percentage of supply in profit and loss metric is flashing signs of a historical bottom for the top crypto asset by market cap.
The on-chain indicator shows what percentage of BTC coins are giving their holders a profit or a loss.
“One of my favorite on-chain indicators is the Bitcoin percentage of supply in profit and loss. The reason I like this one is because of how cyclical it looks – the ebb and flow of this indicator…
What you’ll notice is that there is a