caueconomy
Fees indicator suggests late bear market periods đĽ
Block reward fees pays to miners indicate the moments of highest on-chain activity, typical of bull runs and bottoming capitulations. I first published this indicator on March 12th, already suggesting at the time that you need to see a spike in rates as marked by the blue arrows to be more comfortable with a bottoming signal. It is possible to visualize this event occurring again. The crash event on LUNA caused on-chain activity to spike in a capitalization move that took the price to $25k. This activity made the indicator shoot similarly to other bear market funds, but the best confirmation will be after the peak passes. We may have signaled the bottom but it is necessary to follow the upcoming movements to know if the bottom is already stuck or if we will take more months in this region.