{"id":103804,"date":"2023-06-03T13:09:33","date_gmt":"2023-06-03T13:09:33","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/06\/03\/these-bitcoin-metrics-signal-potential-bull-run-as-crypto-news\/"},"modified":"2023-06-03T13:09:35","modified_gmt":"2023-06-03T13:09:35","slug":"these-bitcoin-metrics-signal-potential-bull-run-as-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/these-bitcoin-metrics-signal-potential-bull-run-as-crypto-news\/","title":{"rendered":"These Bitcoin metrics signal potential bull run as&#8230;\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Bitcoin&#8217;s Realized Cap stabilizes and shows positive signs, potentially driving a bull run.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">BTC miners enjoy profitable returns while the cryptocurrency&#8217;s price experiences a slight loss in recent trading.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoin-and-ethereum-succumb-to-tradfi-what-now\/\" data-wpel-link=\"internal\">Bitcoin&#8217;s<\/a> The price has been on a rollercoaster ride lately, showing signs of volatility over the past few months.  However, amid these fluctuations, there were some encouraging developments to note.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  Recent data suggested that BTC was experiencing a positive shift in one of its crucial metrics.  This improvement could potentially play a significant role in driving its bull run.<\/span><\/p>\n<h4><b>Bitcoin Realized Cap flashes positive<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoin-why-ordinals-and-inscriptions-attracted-new-addresses\/\" data-wpel-link=\"internal\">Bitcoin<\/a> Realized Cap, an essential metric in on-chain analysis, holds significant importance as it serves as the on-chain counterpart to Market Cap.  It evaluates the value of each coin in circulation based on its last on-chain movement. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">After experiencing a notable outflow of capital, the Bitcoin Realized Cap has now stabilized and is starting to witness a net inflow of capital once again. <\/span><\/p>\n<div id=\"attachment_318214\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318214\" class=\"size-full wp-image-318214\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change.png\" alt=\"Bitcoin Realized Cap\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-realized-cap-relative-net-position-change-1536x864.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318214\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">However, compared to previous bull market conditions, this trend was still in its early stages, both in terms of duration and magnitude, as indicated by the recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1664576268686245890?t=nPJoLPzhhRtrDqm5joQXdA&#038;s=19\" data-wpel-link=\"external\">glassnode<\/a> charts.  Examining the Net Position Change of the realized BTC market cap revealed that it was currently positive but fading. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the Relative Net Position change stood at approximately 1.19%.  Furthermore, the Realized Cap remained consistent at over $391.7 million for the past month.<\/span><\/p>\n<h4><b>Percent Supply in profit sees an uptrend<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">As the Realized Cap showed positive developments after over a year of being below it, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoin-new-holdings-spike-good-news-ahead\/\" data-wpel-link=\"internal\">Bitcoin<\/a> Percent Supply in Profit also experienced some upward movement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  Analyzing the chart based on Glassnode data, this metric initiated an upward trend at the beginning of the year, reversing the decline observed in the previous year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  As of this writing, the Percent Supply in Profit stood at over 68.4% based on the current spot price. <\/span><\/p>\n<div id=\"attachment_318212\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318212\" class=\"size-full wp-image-318212\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Bitcoin supply in profit\" width=\"1800\" height=\"1013\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-1536x864.png 1536w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318212\" class=\"size-full wp-image-318212\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1.png\" alt=\"Bitcoin supply in profit\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-percent-supply-in-profit-1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318212\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">While this signified a substantial profit level, it was still lower than the levels reached during the previous year before the decline occurred.<\/span><\/p>\n<h4><b>BTC miners enjoy profitable returns<\/b><\/h4>\n<p><span style=\"font-weight: 400;\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/despite-bitcoins-price-hurdles-positive-signs-emerge\/\" data-wpel-link=\"internal\">Bitcoin<\/a> miners have been experiencing a favorable trend in recent weeks, enjoying positive momentum.  Despite the prevailing market conditions, bitcoin miners have managed to maintain profitability. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to a recent Glassnode chart, they collectively generated a noteworthy revenue of $24.1 million, which included earnings from the Block Subsidy and Transaction Fees.  Considering an estimated production cost of $19.1 million, this translated to a net profit exceeding $5 million. <\/span><\/p>\n<div id=\"attachment_318210\" style=\"width: 1810px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318210\" class=\"size-full wp-image-318210\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"bitcoin miners revenue\" width=\"1800\" height=\"1013\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-1536x864.png 1536w\" data-lazy-sizes=\"(max-width: 1800px) 100vw, 1800px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318210\" class=\"size-full wp-image-318210\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost.png\" alt=\"bitcoin miners revenue\" width=\"1800\" height=\"1013\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost.png 1800w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-300x169.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-1024x576.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-768x432.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/glassnode-studio_bitcoin-miner-revenue-vs-estimated-production-cost-1536x864.png 1536w\" sizes=\"auto, (max-width: 1800px) 100vw, 1800px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318210\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Given the sustained growth in transactions on the Bitcoin network and an upward trajectory in price, there was potential for the profit margin to expand further. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\">Is your portfolio green?  Check out the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" data-wpel-link=\"internal\">Bitcoin Profit Calculator<\/a><\/p>\n<hr\/>\n<h4><b>Bitcoin Daily timeframe chart<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Following a modest upward movement in Bitcoin&#8217;s price towards the end of trading on June 2nd, the cryptocurrency began the current trading period with a slight loss.  As of this writing, it was trading at approximately $27,220, reflecting a minor decrease of less than 1%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">  The volume indicator indicated a lack of significant activity in BTC&#8217;s movement, suggesting a relatively quiet market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/bitcoin-traders-can-expect-this-as-btc-ends-may-in-red\/\" data-wpel-link=\"internal\">BTC<\/a> was trapped in a bearish trend, as indicated by its Relative Strength Index (RSI) line, which remained below the neutral line.<\/span><\/p>\n<div id=\"attachment_318209\" style=\"width: 1801px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318209\" class=\"size-full wp-image-318209\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"BTC\/USD price movement\" width=\"1791\" height=\"716\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01.png 1791w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-300x120.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-1024x409.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-768x307.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-1536x614.png 1536w\" data-lazy-sizes=\"(max-width: 1791px) 100vw, 1791px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318209\" class=\"size-full wp-image-318209\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01.png\" alt=\"BTC\/USD price movement\" width=\"1791\" height=\"716\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01.png 1791w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-300x120.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-1024x409.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-768x307.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/BTCUSD_2023-06-03_08-34-01-1536x614.png 1536w\" sizes=\"auto, (max-width: 1791px) 100vw, 1791px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318209\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s Realized Cap stabilizes and shows positive signs, potentially driving a bull run. BTC miners enjoy profitable returns while the cryptocurrency&#8217;s price experiences a slight loss in recent trading. Bitcoin&#8217;s The price has been on a rollercoaster ride lately, showing signs of volatility over the past few months. However, amid these fluctuations, there were some [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":103805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-103804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=103804"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103804\/revisions"}],"predecessor-version":[{"id":103806,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/103804\/revisions\/103806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/103805"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=103804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=103804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=103804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}