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Short-Term And Long-Term Bitcoin Holder Cost Bases Indicate Changing Market Conditions
ಅಲ್ಪಾವಧಿ ಮತ್ತು ದೀರ್ಘಾವಧಿ bitcoin holder cost basis ratio is trending downward, signaling a shift in market conditions.
ಕೆಳಗಿನವು ಡೀಪ್ ಡೈವ್ನ ಇತ್ತೀಚಿನ ಆವೃತ್ತಿಯಿಂದ ಬಂದಿದೆ, Bitcoin ಪತ್ರಿಕೆಯ ಪ್ರೀಮಿಯಂ ಮಾರುಕಟ್ಟೆಯ ಸುದ್ದಿಪತ್ರ. ಈ ಒಳನೋಟಗಳನ್ನು ಮತ್ತು ಇತರ ಆನ್-ಚೈನ್ ಸ್ವೀಕರಿಸಿದವರಲ್ಲಿ ಮೊದಲಿಗರಾಗಲು bitcoin ಮಾರುಕಟ್ಟೆ ವಿಶ್ಲೇಷಣೆ ನೇರವಾಗಿ ನಿಮ್ಮ ಇನ್ಬಾಕ್ಸ್ಗೆ, ಈಗ ಚಂದಾದಾರರಾಗಿ.
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.
ನಮ್ಮ 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:
ನಮ್ಮ 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:
ನಮ್ಮ 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.
ಮೂಲ ಮೂಲ: Bitcoin ಪತ್ರಿಕೆ