This Metric Suggests Bitcoin Could Be In Danger Of Another Selloff

This Metric Suggests Bitcoin Could Be In Danger Of Another Selloff


A Bitcoin on-chain indicator is currently forming a pattern that has previously led to significant selloffs of the cryptocurrency.

Bitcoin 100-Day SMA Supply Adjusted Dormancy Has Rapidly Gone Up

As pointed out by an analyst in a CryptoQuant post, the selloff could potentially be even stronger than the one seen in November 2018. A relevant concept here is of a “coin day,” which is the amount of 1 BTC accumulated after sitting still on the chain for 1 day. Thus, when a token stays dormant for a certain number of days, it gains coin days of the same amount.

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However, when this coin is finally moved, its coin days naturally reset back to zero, and the coin days it had previously accumulated are said to

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