Long-Term-Holder Spent Output Profit Ratio (LTH-SOPR) is entering the “in profit” zone, where the value is less than 1, suggesting that more coins are being sold by LTH. As you can see on the chart, BTC can stick in this zone anywhere from 6 to 12 months before it goes into an uptrend, followed by the hike of the BTC price. It is historically between 0.5 and 0.6 indicating a bottom, and though we have not yet reached it, we are getting very close to it. 

Continue reading “BTCUSD exchange rate forecast for July 4 — 10”

BTC suffered one of the harshest deviations below the 200-day trend in history. At the moment, the Meyer ratio is 0.478, which means that the BTC price is trading at 52.2% compared to the 200-day moving average.

Continue reading “BTCUSD exchange rate forecast for June 27 – July 03”

Cryptocurrencies were exposed to the liquidity crisis which is typical of the crypto space, it led to a drastic fall in the price of crypto even before the Fed’s rate hike on Wednesday. Once again, it was caused by the liquidation of large positions owned by Three Arrows Capital, a notorious crypto hedge fund, resulting in the outbreak of contagion across several DeFi platforms. Things were looking bad last Monday, even before the U.S. markets started trading. 

Continue reading “BTCUSD exchange rate forecast for June 20 — 26”