CoinVoice has recently learned that Glassnode co-founder Negentropic posted on social media interpreting the Swissblock Bitcoin Fundamental Index (BFI), stating, "Current Bitcoin liquidity continues to weaken, but network growth remains steady. The period from December 2020 to February 2021 is similar to the current cycle phase and price trend.

During that period, liquidity outflow was accompanied by price adjustments, but network growth continued. Similarly, when prices stabilized and new liquidity began to flow in, prices rebounded strongly. This indicates that once liquidity flows back into the market, we may see prices rise, and as long as network growth remains at bullish levels, prices will not drop to lower levels." [Original link]