spent outputs for investors that have held their coins for one to twelve months have witnessed a spike, hinting at the possibility of a price swing, according to
For example, it can track whether coins held by short-term holders are being moved, indicating an uptick in profit-taking activity.When the amount of spent output for short-term BTC holders increases, it often suggests a rally in market volatility.“Movement of this entity can be seen as data for volatility confirmation rather than for price increases or decreases. It appears that volatility is likely to emerge soon.
Readings from the BTC’s Average True Range showed that it has steadily declined since the 19th of April. Confirming the decline in market volatility, BTC’s Chaikin Volatility was spotted in a downtrend at press time. Since the 19th of April, the value of the indicator has dropped by 162%.
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