HTX Star

Considering the possibility that the November low serves as a significant long-term bottom for , it is worth noting that the extent of price declines during the recent upward movement is relatively minor compared to previous cycles.

🟡 Genesis to 2011 Bull Peak Drawdown: -49.4%
🔴 2011 - 2013 Bull Peak Drawdown: -71.2%
🔵 2015-2017 Bull Peak Drawdown: -36%
🟢 2018-2021 Bull Peak Drawdown: -62.6%
⚫️ 2022+ Bull Peak Drawdown: -18.6%

The 7-day price range (3.4%) has consolidated within is one of the tightest over the last 3yrs.

It is comparable to Jan 2023, and July 2020, both of which preceded large market moves.

This suggests high volatility is likely on the horizon.

Bitcoin held by long-term holders fresh all-time high 🚀🚀

DOMINANCE ANALYSIS

BTC.D got rejected from the strong horizontal resistance, from where we've seen massive dumps in BTC.D and bull run in Alts in the past.

MACD crossover is showing bearish momentum. RSI is in the overbought region and bearish divergence is also in action.

This indicates that the price of BTC.D will fall, while BTC moves sideways or bullishly, and it may soon be the start of a bull run in Alts.

Network settlement remains lackluster when compared to Bull Market conditions as the Total Transfer Volume moved on the network has declined to a value of $2.73B per day.

This places the network throughput $10.37B (79%) lower than its peak of $13.1B, observed across the 2021 primary Bull Market.

& both continue to quietly see more and more of their existing supplies move into self custody. Though not a perfect indicator, declining coins on exchanges generally hint at future bull runs, given enough time playing out.

/USDT ANALYSIS

BTC is moving in an ascending triangle and currently, it is holding above its trendline support. Volume is exceptionally less in the market implies a volatile move is coming soon.

A bounce from the trendline support and a strong breakout of the ascending triangle would affirm a powerful bullish move. In case of a sustained breakdown of the ascending triangle, it will test the horizontal support again.

transferred 10,000 ($267M) into

For only the fifth time in history, the average fee paid per block surpassed the block subsidy, with the last instance being at the 2017 peak. For all five of these events, the period of high fee pressure was short-lived, and subsided after just a few days.

At the height of the mania, the average block was paying 6.66 BTC in fees, making for a total of 12.9 per block (~$348k).