The Crosby Ratio is available on the Professional Plan along with other proprietary metrics. You can upgrade when you are logged in to the site using the Upgrade button in the top right corner.
The Crosby Ratio coupled with the Golden Ratio Multiplier suggests that there may be a need for price to cool down in the near term.
However, we have to also note that the first spot Bitcoin ETF is likely to be announced within the next month. The days around that announcement may well be volatile in terms of price action as traders try to take advantage of that particular narrative.
Value Days Destroyed at comparable levels
The Value Days Destroyed (VDD) Multiple is a useful on-chain tool to identify whether activity on the blockchain is becoming overheated. Which historically has influenced Bitcoin’s price action.
This metric uses Coin Days Destroyed, which you can learn more about here, and multiplies it by Bitcoin price to allow for better comparisons of spending activity over time as the price of $BTC varies.
It then takes that data and compares a monthly moving average against a yearly moving average to identify when older coins begin to rapidly enter the market to be sold. This typically happens when longer-term participants begin to take profit on their coins. Historically, this happens near the price highs.
Value Days Destroyed is currently at levels seen in previous Early Bull phases where Bitcoin price reaches local highs and needs to cool down.
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