TOP 5 On-Chain Indicators Signal End of Bitcoin Bear Market
One thing that crypto is good for is generating a huge amount of data. As the market evolves, this should be useful. Contrast this to the many opaque layers in the bankster industry, often publishing estimates and deprecating what should be useful measures, such as money supply figures.
Everyone now wants to front-run the market bottom, and if you keep saying the same thing week after week, at some point someone will be right, but that isn't knowing.
I still think that with the steep rise in derivatives, such numbers need to be added to what is otherwise just internalist numbers that do not fully describe the expanded economy.
Compare the above with Billionaire Arthur Hayes Analyzes State of Crypto Markets, Says Several Major Players Have No More Bitcoin To Sell
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“Taking a look at the sum of OI across all major crypto derivatives centralized exchanges, we can see that the OI local low also coincided with the sub-$16,000 stab of Bitcoin on Monday, November 14th. Now, the OI is back to levels not seen since early 2021.
The timing and magnitude of the reduction of the OI leads me to believe that most of the over-leveraged long positions have been extinguished.”
Also, “What goes down will go up again.” Unless there is a hole in the canvas. We shall see.
To catch a falling knife!
Wear a gauntlet.