Bitcoin

Bitcoin Dormancy Flow Indicator At Lowest Since 2010

Based on Glassnode data on Bitcoin (BTC) wallet activity, an on-chain analyst demonstrates Dormancy Flow Indicator close to 12-year lows.
Bitcoin Dormancy Flow Indicator At Lowest Since 2010 3

Cryptocurrency analyst nicknamed TXMCtrades, host of YouTube show Alpha Beta Soup on blockchain and cryptocurrencies, demonstrates the unusual pattern of Bitcoin activity during this bear cycle.

According to a chart shared by TXMCtrades on Twitter, Dormancy Flow, one of the most interesting Bitcoin on-chain indicators, dropped to levels last seen in October 2010.

This metric is one of the so-called “lifespan indicators” that represent the average number of days destroyed per coin traded on any given day.

As a result, the metric has been falling since Q1 2021. By mid-June 2022, it had dropped below levels seen prior to the legendary 2011 BTC price rally, a historic first breakthrough of digital gold.

That said, the Bitcoin network hasn’t been too quiet since the days when the top cryptocurrency was trading below $0.2; it has grown more than 345,000 times since then.

At the time of writing, the price of BTC still shows no signs of stopping, the 20,000 mark will be the last support area for the bulls before a new signal.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Polymarket User ‘Walletmobile’ Risks $10 Million on Trump’s Victory

Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…

2 mins ago

Binance CEO Richard Teng: The West Will Still Dominate Finance

Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.

13 mins ago

FTX License Suspension Extended by Cyprus SEC Until May 2025

The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…

41 mins ago

VanEck Pyth ETN Now Available in Europe

The VanEck Pyth ETN, backed by assets stored in cold storage with Bank Frick, has…

1 hour ago

Swift, UBS, Chainlink Complete Pilot for Global Tokenized Fund Settlement Network

Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…

1 hour ago

Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire

1 hour ago

This website uses cookies.