examined a key indicator and came up with a positive prediction. The analyst highlighted the trajectory of Bollinger Band Width, an indicator commonly used to visualize periods of high and low volatility.
As per the indicator, BTC entered a low volatility zone, hitting levels which have historically shown to be preceding historic bull runs of 2017 and 2021. The analyst enthusiastically remarked,Are holders in profit? Bitcoin’s price has rallied 13% since the news of BlackRock’s filing for spot ETF was made public, as perBitcoin’s Long Term Holder SOPR, a measure of the profit margins of seasoned investors of the king coin, revealed that most of these holders were selling BTC at profits. According to CryptoQuant, the SOPR value was 1.29%, indicating that BTC could in the early phases of a bull cycle.On the other hand, the profit margins of short-term holders of BTC declined significantly. After soaring to 3.
Source: Digital Coin News (digitalcoinnews.net)
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