HomeUncategorizedBitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning By Cointelegraph

Bitcoin crash pre-halving? Stablecoin metric that marked 2019 top flashes warning By Cointelegraph

November 2, 2023

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© Reuters.

(BTC) is at 17-month highs with just 164 days until the next Bitcoin halving event, alongside anticipation of a spot Bitcoin exchange-traded fund (ETF) approval in the coming months.

Yet, amid Bitcoin’s 106.38% year-to-date gains, the stablecoin supply rate oscillator (SSRO) has raised a major flag despite suggesting the beginning of a new bull cycle.

The SSRO hit a new all-time high at 4.13 on Oct. 25. Source: Glassnode
The RR indicator measures the risk-reward incentives in relation to the current “HODL bank” and spot BTC price. Source: Glassnode