Bitcoin Season May Be Emerging as Key Metrics Indicate Strong Demand and Bullish Momentum
Main Idea
Bitcoin's recent metrics, including a low futures-to-spot ratio, high spot volume ratio compared to altcoins, and a bullish taker buy-sell ratio, indicate a strong bullish trend and the onset of Bitcoin Season.
Key Points
1. Bitcoin’s futures-to-spot ratio has reached its lowest since October 2022, indicating strong spot demand.
2. Bitcoin’s spot volume is now triple that of altcoins, a classic sign of Bitcoin Season, with the highest ratio since July 2022.
3. The Taker Buy-Sell Ratio surged to 1.21, showing renewed bullish momentum and exceeding its 7-day average.
4. Historically, a low futures-to-spot ratio often marks the cycle’s bottom, suggesting the current rally might still be in its early stages.
5. MicroStrategy purchased 155 Bitcoins between August 4–10 at an average price of $116,401, totaling $18.0 million.
Description
Bitcoin’s futures-to-spot ratio has reached its lowest since October 2022, signaling strong demand from large buyers and indicating the start of Bitcoin Season. Bitcoin’s futures-to-spot ratio is at a record
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