BTC Onchain indicators: Btc needs another large negative netflow
MPI: Miners' Position Index (MPI) is the ratio of total miner outflow (USD) to its one-year moving average of total miner outflow (USD): the value of this indicator is in its highest value Since March 2021 MPI= 4.22 Higher value shows that miners are sending more coins than usual which indicates possible selling.
USDT reserve is climbing: in general, when the usdt reserves reach their peak, and the price of Bitcoin is in high level, it means that the smart money is in sell position.
SOPR RATIOS:
Long Term Holder SOPR (SMA 7): decreasing
SOPR Ratio (LTH-SOPR/STH-SOPR): decreasing
These show that long-term holders did not play a role in the recent price increase, but it is the short-term holders that caused this price increase. Based on this, what is created is probably a local top.
NET Flow: On March 22, the Netflow balance was significantly negative. This means that a significant amount of bitcoins were withdrawn from exchanges on March 22. This is almost equal to the amount that was withdrawn from the exchanges on March 21, 2021, and then the ATH happened on November 8. Now the netflow is positive again, and I think the continuation of the uptrend will require another large negative netflow to buy the sales that occur at this level by miners and short-term holders.
Coin Days Destroyed (CDD):It has four top values from January 22, when Bitcoin is in the range area. This index had its highest value on February 22 , 2022, since 2019 / This shows that some long-term investors have started selling their bitcoins.
Summary:
Bitcoin needs another large negative netflow to continue the uptrend, Otherwise we are faced with a local top
USDT reserve is climbing: in general, when the usdt reserves reach their peak, and the price of Bitcoin is in high level, it means that the smart money is in sell position.
SOPR RATIOS:
Long Term Holder SOPR (SMA 7): decreasing
SOPR Ratio (LTH-SOPR/STH-SOPR): decreasing
These show that long-term holders did not play a role in the recent price increase, but it is the short-term holders that caused this price increase. Based on this, what is created is probably a local top.
NET Flow: On March 22, the Netflow balance was significantly negative. This means that a significant amount of bitcoins were withdrawn from exchanges on March 22. This is almost equal to the amount that was withdrawn from the exchanges on March 21, 2021, and then the ATH happened on November 8. Now the netflow is positive again, and I think the continuation of the uptrend will require another large negative netflow to buy the sales that occur at this level by miners and short-term holders.
Coin Days Destroyed (CDD):It has four top values from January 22, when Bitcoin is in the range area. This index had its highest value on February 22 , 2022, since 2019 / This shows that some long-term investors have started selling their bitcoins.
Summary:
Bitcoin needs another large negative netflow to continue the uptrend, Otherwise we are faced with a local top
