By Bitcoin Magazin - afọ 2 gara aga - Oge Ọgụgụ: nkeji 2
Obere oge na ogologo oge Bitcoin Ntọala ọnụ ahịa njide na-egosi na-agbanwe ọnọdụ ahịa
Ihe dị mkpirikpi na ogologo oge bitcoin holder cost basis ratio is trending downward, signaling a shift in market conditions.
Ihe dị n'okpuru bụ site na mbipụta miri emi nke Deep Dive, Bitcoin Akwụkwọ akụkọ kacha mma nke Magazin. Iso na ndị mbụ ga-enweta nghọta ndị a na ntanetị ndị ọzọ bitcoin nyocha ahịa ozugbo na igbe mbata gị, denye aha ugbu a.
One of our favorite on-chain indicators recently flipped bullish. The STH (short-term holder) LTH (long-term holder) cost basis ratio recently has started to trend downward over the last two weeks, indicating a shift in market conditions.
The metric is first explained in detail in The Daily Dive #070.
Historically the metric has been one of the most accurate market indicators in Bitcoin, as the relationships between short-term and long-term holders and the acceleration/deceleration of cost basis of the two respective cohorts is quite informative.
The bitcoin price short-term holder and long-term holder ratio's 14-day change.While it is true that short-term holders are still underwater in aggregate (relative to the average cost basis of the cohort) the market absorbed lots of realized losses during the last few months, and with a relative accumulation occurring, the STH LTH Ratio has flipped back bullish.
A backtest of the ratio over time speaks for itself:
The bitcoin price short-term and long-term holder ratio's 14-day change.Below is a view of the inputs that go into the ratio itself:
The bitcoin short-term holder and long-term holder realized price.Similarly, last Wednesday in The Daily Dive #144 we highlighted the bullish flip in the delta gradient, another market momentum metric.
Isi mmalite: Bitcoin magazine