BITCOIN ON-CHAIN CHARTS UPDATE
Nothing’s happening much on Bitcoin lately. We are running a 3-day streak in Extreme Fear Sentiment at 24. If you can look at the chart below, we have been having multiple bear market sentiments in the middle of a lengthening bull cycle.
I’m introducing a new chart: Bitcoin Liveliness Chart. This assesses long-term investors’ spending behavior. An increase in the trend means they are liquidating and is also indicative of a top.
Zooming in, we can see right after the spike when the market has finally recovered from the May-July mini bear market, it has been trending down since. Which only shows that long-term investors are currently accumulating and not spending their holdings. Bullish, right?
Also, NVT Golden Cross is trending down to oversold territory.
What are your thoughts on these charts? Comment down below.
For more charts relevant to market top readings, stay tuned. 😉
DISCLAIMER: THIS IS NOT FINANCIAL ADVICE.
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Elisa A.
Elisa is our Head of Market Analysis at Rocket Crypto X
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