đ Bitcoin on the Rise! đ
Bitcoin (BTC) is showing some serious upward momentum, and on-chain data suggests we might be in for an even bigger surge! đ
CryptoQuant analyst Avocado reports that several on-chain support levels indicate a positive turning point for BTC. The seven-day SMA of Bitcoinâs Fund Flow Ratio is rebounding from a major support level, signaling that investors are back in action. đ
Additionally, the 30-day SMA of Bitcoinâs Estimated Leverage Ratio is recovering, forming a critical support range. With positive news around futures ETFs and options trading, this metric's influence is set to grow. đ
Long-term holders are also accumulating BTC, as shown by the 30-day EMA of Bitcoinâs Binary Coin Days Destroyed (CDD). This often signals the end of a bull market, but for now, itâs all systems go! đ
BTC is up 7.5% this week, fueled by the Federal Reserveâs interest rate cut. At $63,500, Bitcoin is looking strong! đȘ
Stay tuned, Bitcoin enthusiasts! đ
