On-chain Metric Flashes First Bitcoin Buy Signal Since 2019 – Here is What You Need to Know

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On-chain Metric Flashes First Bitcoin Buy Signal Since 2019 – Here is What You Need to Know

   Bitcoin Bitcoin News BTC    January 31, 2023  |  0

According to crypto data analytics firm CryptoQuant, an on-chain metric is giving off a definitive Bitcoin buy signal for the first time since 2019. CryptoQuant’s Profit and Loss (PnL) Index, an index constructed from three on-chain indicators relating to the profitability of the Bitcoin market, recently crossed back above its 365-Day Simple Moving Average (SMA) after a prolonged spell below it….
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