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

CryptoQuant analyst Avocado wrote that several on-chain data points of Bitcoin have reached average support levels, which indicates a potential major turning point in the long term: 1. The 7-day moving average of the Fund Flow Ratio has hit 0.05 and is now showing a slight rebound. This shows that investors are starting to trade on exchanges again. The 0.05 level has historically been the main support line for the indicator to stop falling and start rebounding. This rally typically occurs at the end of a bear market or halving event and the beginning of a bull market, resulting in significant long-term price increases for Bitcoin. 2. The 30-day moving average of the Estimated Leverage Ratio forms a key support range between 0.15 and 0.175 and is currently showing signs of recovery and upward movement. With the approval of post-2021 futures ETFs and recent positive news regarding Bitcoin options trading, it believes the metric’s impact will continue to grow. 3.Binary CDD’s 30-day moving average is moving between 0.1 and 0.3, indicating that long-term holders are accumulating Bitcoin. When this value increases significantly, it usually signals the end of a bull market. Avocado concluded that these support levels and Bitcoin’s recent moves are very positive from a long-term perspective.