Bitcoin’s liveliness indicator reached new peaks, suggesting strong demand despite lower prices and signaling the bull market cycle may not be over yet.
A technical indicator called liveliness is rising, which historically signals bull run activity and could mean that this market cycle is not over yet, say analysts.
“Liveliness continues to march higher this cycle despite lower prices, indicating a floor of demand for spot Bitcoin that is not reflected in price action,” said technical analyst “TXMC” on Sunday.
The analyst explained that the “elegant metric,” which is like the long-term moving average for onchain activity, is a running sum of all lifetime spending compared to holding activity onchain.
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