The recent on-chain data is quite interesting. Several long-term support indicators of Bitcoin have reached critical points. It feels like there may be a big move.
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1. Figure 1: The 7-day capital flow ratio has just touched 0.05 and started to rebound. This value often means the end of the bear market and the prelude to the bull market in the past.
2. Figure 2: The 30-day leverage ratio has also stabilized between 0.15 and 0.175, and has rebounded a bit recently. With the approval of futures ETFs and good news about Bitcoin options trading, the influence of this indicator may become greater and greater.
3. Figure 3: The 30-day average of binary CDD is between 0.1 and 0.3, indicating that large investors are still hoarding Bitcoin. Usually when this value soars, the peak of the bull market is almost reached.
