GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

“Time To Get Ready For Another Bull Run,” Bitcoin Analyst Says— Here’s Why

An analyst has explained why it could be the time to get ready for a new Bitcoin bull run, based on the pattern developing in this on-chain metric.

Bitcoin US To The Rest Reserve Ratio Has Seen A Reversal Recently

In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the BTC US to The Rest Reserve Ratio. This indicator tells us, as its name suggests, the ratio between the total Bitcoin reserves of the US-based centralized platforms and that of the global ones. Platforms here refer to not just the exchanges, but also other entities like banks and funds.

When the value of this metric is rising, it means the asset is currently moving from offshore platforms to American ones. Such a trend can be a sign of demand from the US-based investors. On the other hand, the indicator going down suggests the foreign platforms have higher demand for BTC right now as the American exchanges are losing dominance to them.

Now, here is a chart that shows the trend in the 100-day Exponential Moving Average (EMA) of the Bitcoin US to The Reserve Ratio over the past year and a half:

Bitcoin US To The Rest Reserve Ratio

As displayed in the above graph, the 100-day EMA Bitcoin US to The Rest Reserve Ratio had been declining earlier in the year, but during the past couple of months, its value has bottomed out and shown a reversal to the upside. This would mean that a transfer of BTC is now occurring from global platforms to the US-based ones. In the chart, the quant has marked the last instance of the indicator displaying this trend.

It would appear that the previous turnaround in the metric had occurred in the last quarter of 2023 and had accompanied a BTC rally that would eventually take the asset to a new all-time high (ATH). The sharpest part of this increase in the indicator had come in the first quarter of 2024. The reason behind this acceleration had been the introduction of the spot exchange-traded funds (ETFs) in the US, which had quickly gained popularity among the investors.

From the graph, it’s also visible, though, that a while after the price had reached the ATH, the metric had topped out and witnessed a reversal in direction. Thus, the spot ETFs couldn’t keep up the same level of interest.

The analyst notes that BTC’s sustained consolidation this year can be traced back to this decrease in the reserve of the US-based platforms. Since the indicator has once again shown a turnaround recently, it’s possible that Bitcoin could see the return of bullish momentum, if the previous pattern is to go by.

BTC Price

Following a 2% jump during the last 24 hours, Bitcoin has returned back to the $68,700 level.

Bitcoin Price Chart

Latest Press

post-thumbnail
News
1 hour ago
Bernstein Analysts Foresee Crypto-Friendly SEC and Senate Banking Committee To Speed Up Regulatory Clarity
The post Bernstein Analysts Foresee Crypto-Friendly SEC and Senate Banking Committee To Speed Up Reg...
READ MORE
post-thumbnail
News
1 hour ago
Dogecoin, Pepe Pumping as BTC Hits $75K ATH – Next Cryptos to Explode
The post Dogecoin, Pepe Pumping as BTC Hits $75K ATH – Next Cryptos to Explode appeared first on C...
READ MORE
post-thumbnail
News
1 hour ago
PolitiFi Tokens Surging with MAGA, Tremp, ConstitutionDAO Up as Trump Claims Victory
The post PolitiFi Tokens Surging with MAGA, Tremp, ConstitutionDAO Up as Trump Claims Victory appear...
READ MORE
post-thumbnail
News
1 hour ago
WazirX Reveals To Issue Recovery Token To Settle Creditor Debts, Shares Strategies To Maximize Fund Recovery
The post WazirX Reveals To Issue Recovery Token To Settle Creditor Debts, Shares Strategies To Maxim...
READ MORE
post-thumbnail
News
1 hour ago
Whale Buys $5 Million of PEPE, Bullish Signal or Market Risk?
The post Whale Buys $5 Million of PEPE, Bullish Signal or Market Risk? appeared first on Coinpedia F...
READ MORE
post-thumbnail
News
1 hour ago
Will Gary Gensler Resign by December? Here’s When We Could See a New SEC Chair
The post Will Gary Gensler Resign by December? Here’s When We Could See a New SEC Chair appeared f...
READ MORE
post-thumbnail
News
1 hour ago
US Crypto Regulation at a Turning Point? Trump to Fire Gensler, Says Justin Sun
The post US Crypto Regulation at a Turning Point? Trump to Fire Gensler, Says Justin Sun appeared fi...
READ MORE
post-thumbnail
News
1 hour ago
What’s The Future Of Political Memes As Donald Trump Wins Election?
The post What’s The Future Of Political Memes As Donald Trump Wins Election? appeared first on Coi...
READ MORE
post-thumbnail
News
1 hour ago
Why The Crypto Market Is Surging Today?
The post Why The Crypto Market Is Surging Today? appeared first on Coinpedia Fintech News With Donal...
READ MORE
post-thumbnail
News
1 hour ago
Breaking: Buterin Deposits 2.09M STRK Worth $799K Into Binance
The post Breaking: Buterin Deposits 2.09M STRK Worth $799K Into Binance appeared first on Coinpedia ...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started