Two key on-chain metrics for the coming days 👀

Two-key-on-chain-metrics-for-the-coming-days

After weeks of nothing, Bitcoin finally found some strength which bringing price back around the $21000 price level. In this post, I'll share two key on-chain metrics to watch in the coming days 👇

1️⃣ Realized Price (RP): The RP is the average buying price of all Bitcoins. 

The price of Bitcoin has traded below RP on every bearmarket. When Bitcoin manage to break back above the RP, the price action below can be threated as deviation and there is some room for growth!

2️⃣ STH-SOPR: This is the profit ratio for short-term holders. 

▶ A value below 1 means STH are in loss
▶ A value above 1 shows STH are at profit

The 1-value is really key and can be viewed as a support/resistance level. Currently the value is below 1, but when price managed to get above, that will be positive.

Hopefully this will help you!