Bitcoin’s On-Chain Metrics Are Turning Bullish: What Is Going On?
Bitcoin‘s (CRYPTO: BTC) on-chain data is showing key support levels that suggest a potential turning point for the cryptocurrency, indicating a positive outlook for the long-term trajectory of its price.
What Happened: According to data from CryptoQuant, several on-chain metrics have hit critical support points, historically marking the end of bear markets and the beginning of new bull runs.
One of the most significant metrics is the 7-day Simple Moving Average (SMA) of the Fund Flow Ratio, which has rebounded after touching 0.05.
Historically, this level has served as a crucial support line, where fund flow stops declining and begins to recover.
The current rebound suggests that investors are returning to exchanges, a sign that often signals the conclusion of bear markets or halving events and ushers in …