The Bitcoin on-chain data is showing that sentiment is highly bullish in the current market. The Short-term Output Profit Ratio (SOPR) metric, which indicates the behavior of market participants, has just flashed a highly bullish signal. Analysts are comparing the metric’s current level to market conditions from last year that marked the bottom of the
The U.S. released its inflation data on Wednesday, January 12, but this doesn’t seem to dampen the sentiment for Bitcoin investors as of now. Bitcoin is trading in the green zone as of press time at price levels above $43,700. Whether Bitcoin remains a buy or a sell at this stage remains a big question
ARK Invest has created a whitepaper designed to help investors grasp Bitcoin’s on-chain data. The paper, authored by ARK analyst Yassine Elmandjra and Glassnode researcher David Puell, breaks Bitcoin’s chain into three main categories: Network health, buyer and seller behavior, and asset valuation. As per the paper, the bottom layer assesses things like network security, […]
