A new update of Crypto analyst Woominkyu Emphasizes a sharp rebound in the Bitcoin combined market index.
This suggests that the Bitcoin market may enter an early battery phase.
By improving sentiment and reduced profitable, indicators in chains blink a potentially upward signal for Bitcoin investors.
Here is what you need to know.
What is BCMI?
Bitcoin Combined Market Index (BCMI), developed and popularized by on-chain analyst Woominkyu, is a composite indicator designed to assess the general market sentiment and phase of Bitcoin using four important on-chain statistics (MVRV, Nupl, Sopr, STEX).
Market value to realized value compares Bitcoin’s current market price with the average price with which all coins were purchased.
Net non -realized profit/loss measures the total profit or loss of Bitcoin holders.
The best output profit ratio tracks if the coins are moved are in profit or loss.
Fear & Greed Index is a sentiment index that reflects the emotions of investors.
The BCMI lecture below 0.15 indicates that the market is in the extreme anxiety zone. This is often seen in the vicinity of macro soils, when prices are low and the sentiment is negative.
The lecture above 0.75 suggests that the market is in the state of euphoria. This is seen on Cyclus tops, when prices are high and greed unbridled.
BCMI: Analysis of current status
According to the analysis of Woominkyu, the 7-day SMA of BCMI is 0.6 and the 90-day SMA of BCMI at 0.45.
The rebound of the short -term average, especially in the light of recent market corrections, suggests that the growing trust of investors is supported by an increased transaction volume and stronger Fundamentals on chains and possible early signs of a bull phase,
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