Bitcoin MPI Crossover Could Suggest Bull Run Still On
Data on the chain show that the position index (MPI) of Bitcoin miners has recently formed a cross -border car, which has always increased at the price of assets in history.
Bitcoin MPI has seen its 90 -day MA cross over 365 days
Just as analysts’ explanation in encrypted Quicktake postalBitcoin MPI has recently given Bitcoin’s bullish signal. this”MPI“It refers to a chain indicator that can track the ratio between the total miner outflow and the 365 -day mobile average (MA).
this Miner outflow This is naturally the number of cryptocurrencies (US dollars) transferred from a wallet related to the network verification device.
When the value of MPI is high, this means that the outflow of miners is more than usual. Generally, the main reason why the queue transferred to token from the wallet is for sales -related purposes, so this trend may be dropped at the price of assets.
On the other hand, the indicators are low, indicating that the number of coins of miners is lower than the average of the past year. This trend may show that the group prefers the current holding.
In the context of the current theme, Bitcoin MPI itself is not interested, but a guide indicator called MPI momentum. Like others momentum Indicators also involve two MAS: 90 days and 365 days.
The following is a chart of the BTC MPI momentum in the past few years.
As shown in the figure, the 90 -day MA of Bitcoin MPI has recently broken 365 days. This shows that miners’ sales have been increasing their positive momentum.
Although this may sound bad, in fact, cryptocurrencies have benefited from this model. From the chart, obviously, cross -border cars usually marked the beginning of the long -term bullish period of asset prices. The last time MPI’s two MAS returned to the latest example to show this trend before December 2022.
Since the recent cross -border car, MAS of 90 days and 365 days has continued to be different, which means that the momentum of public system is still strong.
Bitcoin usually hit the top only when it gets a lot of distance within 365 days. Therefore, considering the position of the current two lines, cryptocurrencies may have some space left in this cycle, and then the miners’ selling will lead to the top.
BTC price
Bitcoin fell to $ 98,000 in a crash yesterday, but since then, the asset seems to have found a rebound because it is now returning to $ 102,500.
