Bitcoin’s Latest Milestone: What It Means for Your Investment Strategy

• Bitcoin exchange stablecoin index has fallen to a 12-month low.
• Currently, the coin is seeing its longest period marked by bullish sentiment.

The Bitcoin (BTC) exchange stablecoin index has fallen to its lowest level since March 2023, according to data from CryptoQuant. At the time of writing, it was 0.00009749, which is a 15% decline since the beginning of the year.

The Bitcoin exchange stablecoin ratio tracks potential buying pressure in the coin market. To do this, compare the amount of BTC held on all cryptocurrency exchanges with the total amount of stablecoins held on them.

When the ratio is high and in an uptrend, it suggests that larger amounts of BTC are held on exchanges compared to stablecoins, indicating increased selling pressure. Conversely, a lower ratio indicates increased buying pressure as there are more stablecoins than BTC on exchanges.

Confirming the above position, pseudonymous CryptoQuant analyst CryptoOnChain said in a recent report:

“With less than a month to go until the Bitcoin halving, Bitcoin is fluctuating between $62,000 and $73,000. Although from a technical analysis perspective, the direction of the breakout of this range would indicate the future trend of Bitcoin, analysis of the exchange Stablecoins Index shows that selling pressure is at its lowest level since March 2023.

According to the analyst, with selling pressure subsiding, a rally “to the halving” remains likely, despite facing new resistance at the $70,000 price level.

Bullish sentiment at its longest period

While evaluating the performance of the BTC futures market, another CryptoQuant analyst, Crypto Sunmoon, observed that Bitcoin has reached a new milestone.

According to the analyst, the currency’s funding rates on exchanges show that it is currently seeing “the longest period of bullish sentiment without experiencing bearish sentiment for (the) longest period in the history of the Bitcoin futures market.” Is.

According to Sunmoon, although it is still unknown when the bullish sentiment will end, any significant decline in the BTC price could provide a buying opportunity.

Is your wallet green? Check Bitcoin Profit Calculator

In the short term, bullish sentiment is expected to persist as BTC Futures Open Interest has resumed an uptrend after a brief decline. At the time of writing, the open interest of the coin stood at $39.03 billion. According to, it has increased by 12% in the last five days

coinglass’ data

At the time of publishing, the leading crypto asset was trading at $70,446, registering a 7% price increase in the past week. coinmarketcap data.

This is an automatic translation of our English version.