Bitcoin SLRV Ribbons Indicate Bullish Trend with Recent Crossover
Recent on-chain data indicates that the Bitcoin SLRV Ribbons are signaling a shift in market behavior.
Key Points
- The short-term moving average (MA) of the Bitcoin SLRV Ratio has crossed above the long-term MA.
- This crossover suggests a transition from HODLing to active trading among investors.
- The SLRV Ratio quantifies the supply of Bitcoin traded within the last 24 hours compared to that held for 6-12 months.
- A high SLRV Ratio indicates increased short-term trading interest, while a low ratio reflects dominant long-term holding behavior.
- Historically, similar crossovers have preceded bullish price movements for Bitcoin.
Currently, Bitcoin's price is recovering after dipping below $107,000, now positioned at approximately $110,000.
