The two-year Z-Score for Bitcoin miners’ transaction fee revenue has turned positive after a long period of time, signaling a new wave of Bitcoin adoption. Historically, this has marked the start of a major bull run. Bitcoin’s 60% surge year-to-date may be just the first milestone in its ascent as miners’ revenue from transaction fees increases.
The Z-Score value measures the number of standard deviations of the average fee income over two years. The Z-Score value is usually positive and rising during a bull market, and negative during a bear market. (Planet Daily)