The post Bitcoin Liveliness Hits Peak As Bull Market Continues appeared on BitcoinEthereumNews.com. A technical indicator called liveliness is rising, which historically signals bull run activity and could mean that this market cycle is not over yet, say analysts. “Liveliness continues to march higher this cycle despite lower prices, indicating a floor of demand for spot Bitcoin that is not reflected in price action,” said technical analyst “TXMC” on Sunday. The analyst explained that the “elegant metric,” which is like the long-term moving average for onchain activity, is a running sum of all lifetime spending compared to holding activity onchain.  “It rises when coins are net transacting and falls when they’re being held, scaling by the age of those coins,” they added. “Liveliness usually rises in bull runs as supply changes hands at higher prices, indicating a flow of newly invested capital.” Fellow analyst James Check observed that liveliness has been range-bound since the 2017 peak, up until now. Bitcoin liveliness has reached a new peak. Source: Glassnode Liveliness magnitude much larger this cycle Check compared current liveliness to the 2017 cycle, which was the first “epic parabola with widespread participation.”  The new liveliness peaks show how extreme the return of old dormant coins is this cycle, he said, adding that the magnitude of value is now much higher. The intriguing part is, unlike 2017, where transactions were in the hundreds to thousands of dollars changing hands, this cycle, it is in the several to tens of billions of dollars, stated Check.  Related: Three Binance Bitcoin charts point to the direction of BTC’s next big move “We have seen an extraordinary volume of coin days destroyed, and I am of the view we have just watched one of the greatest capital rotations and changing of the guard in Bitcoin history.” Bitcoin price starts to consolidate  Bitcoin hasn’t moved much over the past 24… The post Bitcoin Liveliness Hits Peak As Bull Market Continues appeared on BitcoinEthereumNews.com. A technical indicator called liveliness is rising, which historically signals bull run activity and could mean that this market cycle is not over yet, say analysts. “Liveliness continues to march higher this cycle despite lower prices, indicating a floor of demand for spot Bitcoin that is not reflected in price action,” said technical analyst “TXMC” on Sunday. The analyst explained that the “elegant metric,” which is like the long-term moving average for onchain activity, is a running sum of all lifetime spending compared to holding activity onchain.  “It rises when coins are net transacting and falls when they’re being held, scaling by the age of those coins,” they added. “Liveliness usually rises in bull runs as supply changes hands at higher prices, indicating a flow of newly invested capital.” Fellow analyst James Check observed that liveliness has been range-bound since the 2017 peak, up until now. Bitcoin liveliness has reached a new peak. Source: Glassnode Liveliness magnitude much larger this cycle Check compared current liveliness to the 2017 cycle, which was the first “epic parabola with widespread participation.”  The new liveliness peaks show how extreme the return of old dormant coins is this cycle, he said, adding that the magnitude of value is now much higher. The intriguing part is, unlike 2017, where transactions were in the hundreds to thousands of dollars changing hands, this cycle, it is in the several to tens of billions of dollars, stated Check.  Related: Three Binance Bitcoin charts point to the direction of BTC’s next big move “We have seen an extraordinary volume of coin days destroyed, and I am of the view we have just watched one of the greatest capital rotations and changing of the guard in Bitcoin history.” Bitcoin price starts to consolidate  Bitcoin hasn’t moved much over the past 24…