Bitcoin price metric copies move that last came before -25% FTX crash
Bitcoin SLRV Ratio data performs a moving average crossover absent since before the FTX implosion hit the market. Bitcoin (BTC) could have dropped much more last week after one on-chain metric repeated its move from the FTX crash. As noted on Sep. 5 by James Straten, research and data analyst at crypto insights firm CryptoSlate, the SLRV Ratio has “flipped” for the first time since November 2022. Bitcoin SLRV Ratio channels FTX warning BTC price weakness is getting market observers ready for a drop toward $23,000, but the fallout from Bitcoin’s August comedown could have been much worse. According to the Short to Long-Term Realized Value (SLRV) Ratio, a spike in sales of “older” bitcoins occurred in mid-August. Devised by famed analyst David Puell and ARK Invest, SLRV uses the popular HODL Waves metric to track Bitcoin on-chain velocity. HODL Waves split up the circulating BTC supply by the age of coins used in transactions. SLRV takes coins that previously moved within the past 24 h...