Such a statement was made based on the Highly Liquid Supply Shock indicator, which is a version of Mr. Woo's Supply Shock metric. Supply shock is the ratio between unavailable supply and available supply of this or that asset. the Highly Liquid Supply Shock indicator as the ratio between the number of coins held by long-term holders and short-term speculators.Historically, the Bitcoin price shows a strong correlation with Supply Shock indicator dynamics, Mr.
At first glance you can see the Supply Shock model tracks price quite closely. A closer look shows Supply Shock leads price. Psychologically, Bitcoin Supply Shock indicators demonstrate the sentiment of investors: once coins are bought/sold, they migrate from the"illiquid supply" to a"liquid" one.Such a promising price action is accompanied with the record-breaking dropdown of Bitcoin volatility.
The standard deviation of daily returns dropped below 2.5% on the 30-day average chart for the first time since mid-November 2020.
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