Santiment’s latest results, published in the Cointelegraph Consulting newsletter every week, show that consumer bitcoin’s lifetime has increased with the recent rise in prices – an indication that previously inactive tokens are on the move.
Bitcoin consumption is calculated by multiplying the number of tokens that changed address on a given date by the time that has elapsed since the previous transfer. It is an indicator of volatility that often precedes directional price changes. More than 79,955 BTC, who had slept for at least one year, changed address on Friday 23. October and indicated a strong paradigm shift among veteran Bitcoin (BTC) traders.
The average life of the dollar invested in Bitcoin, or MDIA, has also seen a noticeable downward trend over the last seven days, indicating short-term spreads and potential gains from some long-term BTC investors. MDIA Bitcoin recorded similar behavior around the domestic price peaks in February and September, indicating an increased risk of price volatility in the future.
Average sentiment against Bitcoin has changed dramatically among recent press releases, exceeding the $ 13,000 mark, and has gone from an exclusive low to an overwhelming bullish trend over the last 10 days. Last Friday, Bitcoin-related sentiment was at its highest since May 12, the date of the last “halving”.
Overall, positive audiences have rarely been friends with digital assets. Over the last two years, periods of bullish talk and FOMO have usually coincided with price consolidation or upcoming market adjustments – not only for Bitcoin, but also for Ether (ETH) and other cryptocurrencies.
Read the full newsletter here for details with detailed diagrams and photos.