ביטקאָין [בטק] האָלדערס פּלאַנירונג צו גיין לאַנג זאָל לייענען דעם ערשטער

• Bitcoin’s average dormancy witnessed a spike, which indicates higher selling pressure
• Bitcoin’s volume and MVRV ratio continued to decline.

לויט צו אַ נייַ CryptoQuant report by ווענרי, Bitcoin’s average dormancy had witnessed a spike. In the past, whenever such a spike occurred, it was always accompanied by the first technical rebound.

$ בטק:Average Dormancy – Highest level of since February 2022

“Past statistics show that this index frequently rises during the first technical rebound after a large price drop.”
by @dntwenry

לינק👇https://t.co/iELvGc9Gxg

- CryptoQuant.com (@cryptoquant_com) נאוועמבער קסנומקס, קסנומקס

לייענען ביטקאָין ס פּרייס פּראָגנאָז 2022-2023

Bitcoin Average Dormancy rises

פון די בילד אונטן, עס קענען זיין באמערקט ביטקאָין’s average dormancy was the highest it’s ever been since February 2022. “Average Dormancy” is an on-chain indicator that calculates when a coin was traded the last time in relation to all coins. This metric usually grows when there is high selling pressure.

מקור: CryptoQuant

Another indicator that painted a cynical outlook for Bitcoin was the declining mean transaction volume. As can be seen from the image below, Bitcoin’s mean transaction volume declined significantly over the past month.

However, despite that, whales continued to show interest in Bitcoin. According to Glassnode ס דאַטן, addresses holding more than one coin reached an all-time high of 950,432 on 24 November.

מקור: גלאַסנאָדע

Even though large investors were observed to be accumulating Bitcoin, there were factors that could increase selling pressure on retail investors.

Other metrics drop

The transaction volume in profit declined over the past month, as can be seen from the image below. This indicated that a lot of ביטקאָין holders were not able to profit after selling their בטק.

The MVRV ratio declined as well, suggesting that if most of the BTC holders sell at the current price, they would do so at a loss.

The daily active addresses on the BTC network also decreased significantly in the past few days.

מקור: סאַנטימענט

It wasn’t just retail investors that were on the receiving end of selling pressure, as ביטקאָין מיינערז were also feeling the heat.  

As evidenced by the chart below, the revenue generated by miners had been declining over the last few weeks. This declining revenue could be one reason why miners are exiting their positions and succumbing to selling pressure.

The miner balance, at the time of writing, had reached a 10-month low of 1.8 million.

מקור: גלאַסנאָדע

That said, at press time, ביטקאָין was trading at $16,540. Its price had depreciated by 0.06% and its volume had declined by 25.93% in the last 24 hours, according to קאָונמאַרקעטקאַפּ.