Indicators Show That We Are Just At The Bull Cycle Beginning

According to coinmetrics, crypto markets dropped again this past week after more news of Chinese regulation, including the PBOC telling the country’s major financial institutions to stop facilitating cryptocurrency transactions and a Huobi derivatives ban. The markets have now been in decline for almost seven weeks following the start of the crash on May 12th.However, even with a lack of interest by many big players in the massive intention to buy, and as we have said, on-chain indicators are showing what technical indicators cannot. For this reason it is valid to know what is behind the metrics that is really giving a positive side to what we are currently experiencing.As reported by criptonoticias, in a graph published by the analytical company Chainalysis, a record drop in the intensity of bitcoin (BTC) trading in the last year was recorded this Monday, June 28, a day after said indicator had reached the maximum value so far of the year.This indicator is included in the Chainalysis market intelligence report, which compares the value of the order book of trades with the incoming flow of BTC on exchanges. As of Sunday, June 27, that ratio was 14,383, the highest level of the year, but it fell to 5,745 this Monday, according to Chainalysis.The drastic variation of this metric could be interpreted as a sharp change in the proportion of market participants who want to buy BTC compared to those who are willing to sell. Although last Sunday there would be more participants willing to buy than those who were willing to sell, according to Chainalysis, this scenario would have been completely reversed this Monday.However, in a personal way, this metric may reflect that we may be within a transitory period where many investors prefer to secure the earnings to accumulate at a cheaper price.…