In last 7 days we had two spikes in "older" BTC spent output, especially on 14th of April where almost 2.5 BTC moved pretty much nailing the local top at 30777$. This corresponds with a drop off in Leverage ratio around same time, though levels we are seeing lately are nowhere near average ones from 2022 and continuously going lower since Oct 2022. I will touch on BTC price action separately, but worth noting it has been in overbought area for a while now on higher timeframes, so caution is advised as likely return towards 25k is quite likely.
Written by gigisulivan
