Analysis: Rising Bitcoin "vitality" indicator suggests the bull market may continue
Jinse Finance reported that crypto analyst "TXMC" posted on X, pointing out that although the recent bitcoin price has declined, the liveliness of this cycle continues to rise. This indicates that there is underlying demand for spot bitcoin, which is not reflected in the price trend and may suggest that the bull market cycle is not yet over. The analyst stated that this indicator reflects the long-term moving average of on-chain bitcoin activity, representing the sum of all lifecycle spending and on-chain holding activity. During bull markets, as supply changes hands at higher prices, market "liveliness" usually increases, indicating the inflow of new investment capital.
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