ChainCatcher message, Glassnode co-founder Negentropic posted an interpretation on social media regarding Swissblock's Bitcoin Fundamental Index (BFI), stating, "Current Bitcoin liquidity continues to weaken, but network growth remains stable. The period from December 2020 to February 2021 is similar to the current cycle phase and price trend.

During that time, liquidity outflows were accompanied by price adjustments, but network growth continued. Similarly, when prices stabilized and new liquidity started to flow in, prices rebounded strongly. This indicates that once liquidity returns to the market, we may see price increases, and as long as network growth remains at bullish levels, prices will not drop to lower levels."