Several on-chain data points have reached their average support levels, indicating a potentially significant turning point from a long-term perspective.
The 7-day SMA of the Fund Flow Ratio has touched 0.05 and is now showing a slight rebound. This suggests that investors are beginning to trade on exchanges again. Historically, the 0.05 level has served as a major support line where the Fund Flow Ratio stops declining and starts to recover. This rebound typically occurs when a bear market or halving event concludes, leading to significant long-term increases in Bitcoinâs price.
The 30-day SMA of the Estimated Leverage Ratio has formed a key support range between 0.15 and 0.175, currently showing signs of recovery and upward movement. With the approval of futures ETFs after 2021 and recent positive news regarding Bitcoin options trading, the influence of this metric is expected to grow.
The 30-day EMA of Binary CDD is moving between 0.1 and 0.3, indicating that long-term holders are accumulating Bitcoin. When this value significantly increases, it often signals the end of a bull market.
These support levels and recent movements are very positive from a long-term standpoint.
