A look at on-chain metrics for bitcoin (BTC), specifically Coin Days Destroyed (CDD), Dormancy, and Spent Output Age Bands. This is done in order to determine the age of coins that were responsible for the majority of the selling during the April 25 correction.
Bitcoin is expected to find short-term support near $52,370 or $51,350. Afterward, it’s likely to make another breakout attempt above the $55,850 resistance area. BTC resumes bounce BTC has been increasing since bouncing on April 26. The bounce began at a strong support level between $46,900-$47,725. The support is created by the 0.5 long-term Fib … Continued
John H. Selby1, Carlo Maria Scandolo2,3, and Bob Coecke41ICTQT, University of Gdańsk, Wita Stwosza 63, 80-308 Gdańsk, Poland2Department of Mathematics & Statistics, University...