Analysis: Rising Bitcoin "Vitality" Indicator Indicates Bull Market May Continue
2025-12-07 03:06:47
Crypto analyst "TXMC" wrote on the X platform that despite the recent decline in bitcoin prices, the liveliness of this cycle has continued to rise, indicating that there is a bottom in demand for spot bitcoin, which is not reflected in the price movement, which may mean that the bull market cycle of this round of the market is not over. The analyst said that this indicator reflects the long-term moving average of bitcoin on-chain activity, which is the sum of all life cycle spending and on-chain holding activity. During bull markets, market "vitality" usually rises as supplies change hands at higher prices, indicating new investment capital inflows.
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