Wallets Linked to Crypto Exchange Mt.Gox Became Active Last Month
10,000 BTC which had been dormant since 2013 began to move on August 29. According to experts, these bitcoins are somehow connected to bankrupt exchange Mt.Gox.
By the end of August, the RHODL Ratio and MVRV Z-Score metrics indicated the first cryptocurrency was deeply oversold. According to Capriole Investments CEO Charles Edwards, the Difficulty Tape indicator fixed at the end of the miner capitulation period, which is a “great buy signal.”
Other on-chain indicators did not signal a change in sentiment. The 7-day moving average of the number of active addresses (excluding interconnected ones) tested the lower limit of the bearish channel.
The aSOPR tool never crossed the threshold of 1 during the month, even when the price of Bitcoin was testing the $24,000 level.
