Cathie Wood’s Ark Invest Says ‘Uptrend’ Developing In Bitcoin’s Market Structure Because Of This Reason
Asset management giant Ark Invest predicted a positive turn for Bitcoin’s (CRYPTO: BTC) price on account of the oversold conditions witnessed for the Stablecoin Supply Ratio Oscillator (SSRO.)
What Happened: A recent report. from the Cathie Wood-led firm revealed that the SSRO, a metric used to measure Bitcoin’s potential purchasing power, hit an oversold point of -2.27 in early September, a level not seen since the bear market lows of 2022.
For the curious, the SSRO is determined by dividing the Bitcoin supply by the supply of all major stablecoins, denominated in BTC. The ratio’s 200-day moving average, plus 2 standard deviations above and below, is then plotted. The SSRO tracks how the ratio fluctuates between these two standard deviation bands, also known …
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