Bitcoin is getting a boost from rate cuts and expectations of global liquidity returning. That's for the price action, at least. But is this rally actually supported on-chain? Let's explore. The Ecoinometrics newsletter gives you insights from crypto and macro data to help you make better investment decisions. We spend hours every day gathering data, creating metrics and bringing them to life with data visualizations that allow you to quickly get to the heart of things. We then distill all that knowledge in each issue of the newsletter with less words and more charts so that you get insights, direct to the point, in five minutes or less. Join more than 24,000 investors here: Done? Thanks! That’s great! Now let’s dive in. Bitcoin's Price Is Rising, On-Chain Activity Isn'tThe TakeawayBitcoin's price is rallying, but on-chain activity lags behind. This disconnect hints at a potentially fragile uptrend. While market sentiment improves, the lack of on-chain support suggests caution. Investors should watch for alignment between price and on-chain metrics as a signal of a more sustainable rally. Bitcoin Is Asleep On-Chain...Unlock this post for free, courtesy of Ecoinometrics. |
Wednesday, September 25, 2024
Bitcoin's Price Is Rising, On-Chain Activity Isn't
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