By Bitcoin Маҷалла - 2 сол пеш - Вақти хониш: 2 дақиқа
Short-Term And Long-Term Bitcoin Holder Cost Bases Indicate Changing Market Conditions
Дар кӯтоҳмуддат ва дарозмуддат bitcoin holder cost basis ratio is trending downward, signaling a shift in market conditions.
Дар зер аз нашри охирини Deep Dive оварда шудааст, Bitcoin Бюллетени премиум дар бозорҳои маҷалла. Барои гирифтани ин фаҳмишҳо ва дигар занҷирҳо яке аз аввалинҳо бошед bitcoin Таҳлили бозор мустақиман ба паёмдони худ, ҳозир обуна шавед.
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.
Дар 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:
Дар 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:
Дар 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.
Манбаъи аслӣ: Bitcoin маҷалла