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Tes't - BTC's DAA Leading the Way

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Bitcoin has decoupled from the S&P over the past three weeks after closely correlating in the weeks following Black Thursday. As of 4/30, BTC has climbed while the S&P has flattened out. Bitcoin's rising DAA was a good validation at this time, but now we need to watch for a bearish divergence forming if this metric continues to decline.

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Bitcoin has decoupled from the S&P over the past three weeks after closely correlating in the weeks following Black Thursday. As of 4/30, BTC has climbed while the S&P has flattened out. Bitcoin's rising DAA was a good validation at this time, but now we need to watch for a bearish divergence forming if this metric continues to decline.

Tes't - BTC's DAA Leading the Way

Bitcoin has decoupled from the S&P over the past three weeks after closely correlating in the weeks following Black Thursday. As of 4/30, BTC has climbed while the S&P has flattened out. Bitcoin's rising DAA was a good validation at this time, but now we need to watch for a bearish divergence forming if this metric continues to decline.

BTC's DAA Leading the Way

Bitcoin has decoupled from the S&P over the past three weeks after closely correlating in the weeks following Black Thursday. As of 4/30, BTC has climbed while the S&P has flattened out. Bitcoin's rising DAA was a good validation at this time, but now we need to watch for a bearish divergence forming if this metric continues to decline.

Chainlink’s 30-day MVRV ratio approaching the ‘danger zone’?

Chainlink’s 30-day MVRV ratio is hovering around 1.32, indicating that its short-term holders are currently - on average - around 32% in profit. This has been a contentious level in Chainlink’s recent history, as levels of 1.25 and above have often resulted in short-term corrections, as ‘new money’ feels more and more content with cashing out.

Market still too shaky for stablecoin whales?

The top non-exchange addresses for two biggest stablecoins - USDT and USDC - show no sign of converting parts of their bags back to Bitcoin and other cryptocurrencies just yet.In fact, since ‘Black Thursday’, these addresses have added another 559,000,000 USDT and 136,000,000 USDC, respectively, to their bags, indicating a strong desire to stay on the sidelines until they’re confident the market has in fact recovered.

Can Bitcoin’s network activity support another leg up?

Bitcoin’s daily active addresses have been on the incline ever since ‘Black Thursday’, supporting the coin’s 52.3% growth.On April 15th, over 934,500 addresses have either sent or received Bitcoin - the highest level since Bitcoin’s 2019 top.

Is $170 a strong sell level for ETH miners?

For the second time this month, Ethereum miners are offloading parts of their block rewards after Ethereum broke above $170. After a 45-day accumulation period, ETH miners first moved about 10000 ETH on April 7th (as ETH tackled the $172 resistance line). Earlier today, they’ve started moving their coins again - at virtually the same price level.