In this article we take a look at on-chain data for Bitcoin: new coins minted from mining activities are headed to exchanges giving bearish signals for the cryptocurrency.
Meanwhile, some metrics tell us that investors are not capitulating their positions because they expect a higher future price for BTC.
The king of the market is hovering around the key $30,000 level waiting to make the next move. Will this be upward or downward?
See all the details below.
Bitcoin mining: a look at on-chain data
Bearish signals on the mining front are on the horizon for Bitcoin, which for the past 13 days has been hovering somewhat quietly around the psychological $30,000 threshold while giving some positive hints about future price action.
Most notably, the “adjusted SOPR” metric, which provides interesting data regarding the profitability/loss of on-chain moved BTC, anticipates a bullish overall picture for us.
This indicator calculates the ratio of the price at which a coin was last moved to i
We współpracy z: https://en.cryptonomist.ch/2023/07/04/on-chain-analysis-bitcoin-mining-activities/
