Bitcoin: Confluence Between Price Action and On-Chain Data ↓

Bitcoin-Confluence-Between-Price-Action-and-On-Chain-Data

• Indicators: AVWAPs anchored to the Third and Fourth Halvings, UPR Whales 10k, UPR Whales 100-1k, UPR Whales 1k-10k, UPR Miner Whales 100-1k, UPR Miner Whales 1k, UPR Whales Last Active 0-1days, UPR Whales Last Active 1-7days, UPR New and Old Whales (by Ki Young Ju, CEO at CQ).

• The last time that, after an ATH, the indicators reached levels similar to those seen during the early February drop was in May-June 2022.

• Likewise, it is worth noting that in both cycles the indicators reached similar values after Bitcoin had already closed below the AVWAP anchored to the latest halving on the weekly timeframe, showing confluence between weakness in Bitcoin’s price action and the situation among its whales (on-chain data).