Checkmatey, an analyst at Glassnode, an on-chain data analytics company, said in a post that Bitcoin's breakout of the new ATH value historically represents a transition point from the "enthusiastic cow" to the "excited cow".
This is also consistent with the MVRV ratio exceeding 1 standard deviation, but we rarely break through it on the first try.
Glassnode analyst: BTC's breakout of the new ATH value historically represents a transition point from "enthusiastic cow" to "excited cow"
2024-05-21 00:42:31
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