BTC Ranging Likely Comes to an End
Summary: There's a consensus that extended BTC ranging should end up soon. What next? Reading the charts and trying to understand.
Assets covered: Bitcoin
Metrics used: Daily Active Addresses, Mean Age, Weighted Social Sentiment, Development Activity, Percent of Active Coins, MVRV, Social Volume
It was a calm June for BTC going sideways. Basically one of the longest periods when BTC stayed in range last months.
Alts surging. Yield farming. BTC ranging:
On 26th June, $1bn+ notional BTC+ETH options will expire. By far the largest expiration ever. Calm ranging may end up roughly. Perhaps a serious volatility ahead. To which side will breakthrough likely happen? Let's see what data tells us.
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