{"id":603012,"date":"2024-04-13T11:00:30","date_gmt":"2024-04-13T11:00:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=603012"},"modified":"2024-06-11T07:30:09","modified_gmt":"2024-06-11T07:30:09","slug":"waiting-for-the-bitcoin-bull-run-to-resume-heres-the-indicator-to-watch-for","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/waiting-for-the-bitcoin-bull-run-to-resume-heres-the-indicator-to-watch-for\/","title":{"rendered":"Waiting For The Bitcoin Bull Run To Resume? Here\u2019s The Indicator To Watch For"},"content":{"rendered":"

The bullish momentum of the Bitcoin price has dwindled over the past few weeks, putting the progression of the crypto bull cycle into question. On Friday, April 12, the crypto market witnessed a flash crash, causing the premier cryptocurrency\u2019s value to drop from $70,000<\/a> to below $67,000.<\/span><\/p>\n

This latest downturn underscores the struggle of the Bitcoin price to return to its recent all-time high of $73,737, which was forged in mid-March. On-chain analytics platform Santiment has identified a particular Bitcoin metric that may signal the resumption of the bull run.<\/span><\/p>\n

Bitcoin Bull Run May Resume If This Metric Falls<\/strong><\/h2>\n

In a recent post on X<\/a>, blockchain intelligence firm Santiment provided an exciting insight into the current cycle and the price performance of Bitcoin. The firm pinpointed the Mean Dollar Invested Age metric as one of the indicators to watch as the market leader moves sideways.<\/span><\/p>\n

\n
Related Reading: Cardano (ADA) Prints \u2018Undeniable Bull Run\u2019 Signal: Crypto Analyst<\/a><\/div>\n<\/div>\n

According to Santiment<\/a>, the Mean Dollar Invested Age metric tracks the average age of investment in an asset that has sat in the same wallet. When this indicator is rising, it means that investments are getting more stagnant and old coins are being held in the same wallets.<\/span><\/p>\n

Conversely, a decreasing Mean Dollar Invested Age metric implies that investments are flowing back into regular circulation. This \u201cfalling line\u201d also suggests an increase in network activity.\u00a0\u00a0<\/span><\/p>\n

\"Bitcoin\"<\/p>\n

A chart showing Bitcoin's Mean Dollar Invested Age |<\/span> Source: Santiment\/X<\/a><\/pre>\n
From a historical perspective, Bitcoin exhibited a falling Mean Dollar Invested Age line during the previous bull cycles. According to Santiment, this has been the case for the premier cryptocurrency in the current bull run, which kicked off in late October 2023.\u00a0<\/span><\/p>\n
The on-chain analytics platform, however, noted that Bitcoin\u2019s Mean Dollar Invested Age line has been moving sideways over the past couple of weeks. This phenomenon is even more shocking, considering that the highly-anticipated halving event is about a week away.<\/span><\/p>\n
The Bitcoin halving will see the miners\u2019 reward slashed in half (from 6.25 BTC to 3.125 BTC). It is a bullish event<\/a> that has contributed to the optimistic outlook – borne by most investors – for the premier cryptocurrency in 2024.<\/span><\/p>\n
From Santiment\u2019s latest report, investors might want to keep their eyes peeled for the Bitcoin Mean Dollar Invested Age metric. And the bull run is likely to continue<\/a> if the BTC\u2019s Mean Dollar Invested Age line resumes its fall, which would imply that major stakeholders (like whales) are back to moving coins into regular circulation.<\/span><\/p>\n
BTC Price At A Glance<\/strong><\/h2>\n
As of this writing, Bitcoin is trading around $66,548, reflecting a notable 6% price decline in the past 24 hours.<\/span><\/p>\n
Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d?<\/a><\/div>\n
\"Bitcoin\"<\/p>\n
Bitcoin price falls below $67,000 on the daily timeframe | Source: BTCUSDT chart on TradingView<\/a><\/pre>\n
Featured image from iStock, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"
The bullish momentum of the Bitcoin price has dwindled over the past few weeks, putting the progression of the crypto bull cycle into question. On Friday, April 12, the crypto market witnessed a flash crash, causing the premier cryptocurrency\u2019s value to drop from $70,000 to below $67,000. This latest downturn underscores the struggle of the Bitcoin price to return to its recent all-time high of $73,737, which was forged in mid-March. On-chain analytics platform Santiment has identified a particular Bitcoin metric that may signal the resumption of the bull run. Bitcoin Bull Run May Resume If This Metric Falls In a recent post on X, blockchain intelligence firm Santiment provided an exciting insight into the current cycle and the price performance of Bitcoin. The firm pinpointed the Mean Dollar Invested Age metric as one of the indicators to watch as the market leader moves sideways. Related Reading: Cardano (ADA) Prints \u2018Undeniable Bull Run\u2019 Signal: Crypto Analyst According to Santiment, the Mean Dollar Invested Age metric tracks the average age of investment in an asset that has sat in the same wallet. When this indicator is rising, it means that investments are getting more stagnant and old coins are being held in the same wallets. Conversely, a decreasing Mean Dollar Invested Age metric implies that investments are flowing back into regular circulation. This \u201cfalling line\u201d also suggests an increase in network activity.\u00a0\u00a0 A chart showing Bitcoin’s Mean Dollar Invested Age | Source: Santiment\/X From a historical perspective, Bitcoin exhibited a falling Mean Dollar Invested Age line during the previous bull cycles. According to Santiment, this has been the case for the premier cryptocurrency in the current bull run, which kicked off in late October 2023.\u00a0 The on-chain analytics platform, however, noted that Bitcoin\u2019s Mean Dollar Invested Age line has been moving sideways over the past couple of weeks. This phenomenon is even more shocking, considering that the highly-anticipated halving event is about a week away. The Bitcoin halving will see the miners\u2019 reward slashed in half (from 6.25 BTC to 3.125 BTC). It is a bullish event that has contributed to the optimistic outlook – borne by most investors – for the premier cryptocurrency in 2024. From Santiment\u2019s latest report, investors might want to keep their eyes peeled for the Bitcoin Mean Dollar Invested Age metric. And the bull run is likely to continue if the BTC\u2019s Mean Dollar Invested Age line resumes its fall, which would imply that major stakeholders (like whales) are back to moving coins into regular circulation. BTC Price At A Glance As of this writing, Bitcoin is trading around $66,548, reflecting a notable 6% price decline in the past 24 hours. Related Reading: Traders Forecast Massive Rally For Altcoins, But Why Is Sentiment \u201cDown\u201d? Bitcoin price falls below $67,000 on the daily timeframe | Source: BTCUSDT chart on TradingView Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":590,"featured_media":603015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1119,1122,78790,57231],"class_list":["post-603012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btc-price","tag-btcusdt","tag-santiment"],"acf":[],"yoast_head":"\nWaiting For The Bitcoin Bull Run To Resume? 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Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger. When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi\u2019s Spotify Daily Mix. Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K. Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that. Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi\u2019s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings. Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that \u201cwhatever is worth doing at all is worth doing well.\u201d Hence, you will always find him striving to be better. Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.","sameAs":["https:\/\/www.linkedin.com\/in\/opeyemi-sule-027bb5227","https:\/\/x.com\/https:\/\/twitter.com\/fwOpeyemi"],"url":"https:\/\/uniquehot.com\/author\/oluwatosino\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Waiting For The Bitcoin Bull Run To Resume? 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