BlockBeats News, December 7th, according to Cointelegraph, analyst TXMC stated that the technical indicator Liveliness is rising, which historically has signaled bull market activity, potentially indicating that this market cycle is not yet over.
TXMC stated: “Despite the price downturn, the activity level for this cycle continues to rise, indicating that the underlying demand for spot Bitcoin is still strong, just not reflected in the price action yet.” The analyst explained that this indicator is similar to a long-term moving average of on-chain activity, comparing the cumulative on-chain spending and holding behavior across all cycles.
And added: “When more transactions overall are occurring on-chain with the token, the indicator rises; when more is being held, it falls, weighted by the age of those tokens. In a bull market, liveliness tends to go up as supply changes hands at higher price levels, indicating fresh capital constantly flowing in.”
