Bitcoin's Circulating Velocity: A Key Indicator for Market Trends

Bitcoin's circulating velocity, calculated as the total amount of coins moved in a year divided by the total supply, serves as a crucial indicator of market activity. Historically, an increase in this velocity has preceded significant bull runs, driven by large-scale turnover among whale investors.

Currently, the velocity remains stable due to uncertainties surrounding the US presidential election and macroeconomic conditions, which have deterred whale investors. However, the continuous increase in stablecoin supply signals potential for a bullish rally if these external factors are resolved.

Overall, the market outlook remains optimistic.