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.

Positive signs

🟢 Daily Active Addresses

DAA are close to one year high, it's a sign of healthy network activity. Similar DAA levels detected days before 2019 pump and during

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