Analysis: Three long-term on-chain indicators reach average support levels, which may indicate a bullish outlook for Bitcoin

Odaily Odaily News CryptoQuant analyst Avocado wrote that several on-chain data points of Bitcoin have reached the average support level, which indicates a potential major turning point in the long run: 1. The 7-day moving average of the Fund Flow Ratio has touched 0.05 and now shows a slight rebound. This shows that investors have started trading on exchanges again. The 0.05 level has historically been the main support line for the indicator to stop falling and start rebounding. This rebound usually occurs at the end of a bear market or halving event and the beginning of a bull market, leading to a long-term sharp rise in Bitcoin prices. 2. The 30-day moving average of the estimated leverage ratio has formed a key support range between 0.15 and 0.175, and is currently showing signs of recovery and upward movement. With the approval of futures ETFs after 2021 and recent positive news about Bitcoin options trading, it is believed that the impact of this indicator will continue to grow. 3. The 30-day moving average of Binary CDD moves between 0.1 and 0.3, indicating that long-term holders are accumulating Bitcoin. When this value increases significantly, it usually indicates the end of the bull market. Avocado concluded that these support levels and Bitcoin's recent trend are very positive from a long-term perspective.