Bitcoin and Ethereum appear bound for high volatility as several on-chain metrics suggest that a market bottom is near. Still, these cryptocurrencies must overcome a significant obstacle to resume the uptrend. Bitcoin appears to be trading in oversold territory while crypto enthusiasts remain fearful of further losses. Bitcoin’s Entity-Adjusted Dormancy Flow suggests that the flagship cryptocurrency could be forming a local bottom. It considers the ratio of the current market capitalization to the annualized dormancy value to determine whether experienced market participants are spending their BTC. Whenever there is ... (full story)