Bitcoin (BTC) On-Chain Data Signals Robust Recovery: Key Metrics Analysis

• Bitcoin’s on-chain metrics suggest a potential recovery following its drop below $60,000.
• The “Bitcoin Fundamental Index” by Swissblock, a measure of Bitcoin network health, indicates potential upward price movement.
• Key metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) also signal a potential market recovery.

Bitcoin’s on-chain metrics and the Bitcoin Fundamental Index indicate a potential recovery, with key indicators signaling a bullish market sentiment.

Bitcoin’s On-Chain Metrics Suggest Recovery

Following Bitcoin’s recent drop below $60,000, a critical examination of on-chain metrics suggests a potential strong recovery on the horizon. The “Bitcoin Fundamental Index” by Swissblock, a composite measure of various Bitcoin network health indicators, recently hit an inflection point, signaling potential upward movement for Bitcoin’s price.

Key Metric: Short-Term Holder MVRV

One of the key metrics to consider is the Short-Term Holder MVRV (Market Value to Realized Value), which currently stands at 0.96. This ratio compares the market value (the current price at which Bitcoin is trading) to... Read the full article for FREE at COINOTAG!