Pricing Academy
Log in
insight thumbnail

Making a cautiously bullish case for BTC

@Ibis
1 min read
27.05.2020
BTC

The number of addresses holding more than 100 BTC is on the rise again (Source: Sandata)

Quick takeaways:

  • Several of Bitcoin's on-chain and social indicators may slowly be moving into 'bullish' territory
  • Assets covered: Bitcoin
  • Metrics used: Holder disribution, social seniment, price-daa divergence, mvrv long/short difference, daily active addresses


It’s been a week of cold showers for Bitcoin, as the benchmark cryptocurrency recorded double-digit losses (-10.2%) over the past 7 days and is now inching closer to retesting the $8500 support level.


Unlike most BTC corrections, though, this one has failed to take down the entire market with it, as many high-cap alts were up strong against BTC to start the week:

The decoupling seems to have breathed new optimism into altcoin enthusiasts, as we’re seeing multiple recent spikes in the amount of ‘alt season’ mentions on crypto social media,

We are using cookies to improve your experience!

By clicking “Allow all”, you agree to use of all cookies. Visit our Cookies Policy to learn more.