{"id":645521,"date":"2024-10-01T02:30:24","date_gmt":"2024-10-01T02:30:24","guid":{"rendered":"https:\/\/wncen.com\/?p=645521"},"modified":"2024-09-30T18:06:47","modified_gmt":"2024-09-30T18:06:47","slug":"is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","title":{"rendered":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals"},"content":{"rendered":"

Bitcoin has seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by nearly 10% in the past two weeks alone, registering a 24-hour high of $66,000<\/a> earlier today, although BTC has now seen a slight retracement, currently trading at $63,508.<\/p>\n

Amid this price performance, Axel Adler Jr, an analyst from the on-chain analytics platform CryptoQuant, has shed light<\/a> on the potential for Bitcoin to see a bigger rally<\/a> shortly based on key indicators.<\/p>\n

Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Here\u2019s Why<\/a><\/div>\n

Bitcoin Key Indicator Pointing To A Bigger Rally<\/h2>\n

According to Adler, a significant shift observed in Bitcoin’s market activity appears to suggest that the crypto market might be gearing up for a bullish momentum<\/a> soon.<\/p>\n

One of the focal points of Adler’s analysis is the “Exchange Flow Multiple,” which plays a crucial role in understanding the movement of Bitcoin on exchanges.<\/p>\n

This indicator measures the ratio between short-term (30-day) and long-term (365-day) Bitcoin inflows and outflows on exchanges. When this multiple declines, short-term exchange movements are considerably lower than long-term ones, which could point to decreased volatility.<\/p>\n

\"Bitcoin
Bitcoin Exchange Flow Multiple. | Source: CryptoQuant<\/figcaption><\/figure>\n

Adler Jr elaborates on this by highlighting two primary factors that influence the decline of Bitcoin Exchange Flow Multiple. The CryptoQuant analyst mentioned Long-Term Holders<\/a> Retaining Assets as the first factor.<\/p>\n

Also referred to as “HODLers,” long-term Bitcoin holders when not actively trading their assets, preferring to hold onto them with the expectation of future price increases, can lead to a decline in exchange flow multiple.<\/p>\n

The analyst also draws attention to the natural market correction and recovery process. The market typically needs time to stabilize after significant drops in Bitcoin\u2019s price.<\/p>\n

This stabilization period reduces exchange activity as investors wait for a clearer price direction. Adler Jr noted that a low exchange flow multiple in such contexts might reflect a “wait-and-see” attitude among investors, anticipating a favorable price shift before they re-enter the market actively.<\/p>\n

Drawing Parallels To 2023’s Bull Market<\/h2>\n

Adler Jr’s analysis further indicates that the current behavior of the Exchange Flow Multiple resembles patterns seen before previous rallies. Notably, similar low levels of the indicator were observed before the major market uptrend in 2023.<\/p>\n

Related Reading: Bitcoin Breaks $66,000, But Analyst Warns Against Fresh Longs\u2014Here\u2019s Why<\/a><\/div>\n

The CryptoQuant analyst disclosed that if history were to repeat itself, the current situation might set the stage for the next significant upward movement in Bitcoin’s price<\/a>.<\/p>\n

\"Bitcoin
BTC price is moving upwards on the 2-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by nearly 10% in the past two weeks alone, registering a 24-hour high of $66,000 earlier today, although BTC has now seen a slight retracement, currently trading at $63,508. Amid this price performance, Axel Adler Jr, an analyst from the on-chain analytics platform CryptoQuant, has shed light on the potential for Bitcoin to see a bigger rally shortly based on key indicators. Related Reading: Bitcoin Set For Biggest September Gains In A Decade: Here\u2019s Why Bitcoin Key Indicator Pointing To A Bigger Rally According to Adler, a significant shift observed in Bitcoin’s market activity appears to suggest that the crypto market might be gearing up for a bullish momentum soon. One of the focal points of Adler’s analysis is the “Exchange Flow Multiple,” which plays a crucial role in understanding the movement of Bitcoin on exchanges. This indicator measures the ratio between short-term (30-day) and long-term (365-day) Bitcoin inflows and outflows on exchanges. When this multiple declines, short-term exchange movements are considerably lower than long-term ones, which could point to decreased volatility. Adler Jr elaborates on this by highlighting two primary factors that influence the decline of Bitcoin Exchange Flow Multiple. The CryptoQuant analyst mentioned Long-Term Holders Retaining Assets as the first factor. Also referred to as “HODLers,” long-term Bitcoin holders when not actively trading their assets, preferring to hold onto them with the expectation of future price increases, can lead to a decline in exchange flow multiple. The analyst also draws attention to the natural market correction and recovery process. The market typically needs time to stabilize after significant drops in Bitcoin\u2019s price. This stabilization period reduces exchange activity as investors wait for a clearer price direction. Adler Jr noted that a low exchange flow multiple in such contexts might reflect a “wait-and-see” attitude among investors, anticipating a favorable price shift before they re-enter the market actively. Drawing Parallels To 2023’s Bull Market Adler Jr’s analysis further indicates that the current behavior of the Exchange Flow Multiple resembles patterns seen before previous rallies. Notably, similar low levels of the indicator were observed before the major market uptrend in 2023. Related Reading: Bitcoin Breaks $66,000, But Analyst Warns Against Fresh Longs\u2014Here\u2019s Why The CryptoQuant analyst disclosed that if history were to repeat itself, the current situation might set the stage for the next significant upward movement in Bitcoin’s price. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":645534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,679,6848,1119,78790,6664,83531],"class_list":["post-645521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price","tag-bitcoin-price-prediction","tag-btc","tag-btcusdt","tag-crypto","tag-cryptoquant"],"acf":[],"yoast_head":"\nIs Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals<\/title>\n<meta name=\"description\" content=\"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-01T02:30:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-30T18:06:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samuel Edyme\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@0xEdyme\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samuel Edyme\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\"},\"author\":{\"name\":\"Samuel Edyme\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\"},\"headline\":\"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals\",\"datePublished\":\"2024-10-01T02:30:24+00:00\",\"dateModified\":\"2024-09-30T18:06:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\"},\"wordCount\":470,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\",\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin price\",\"bitcoin price prediction\",\"btc\",\"BTCUSDT\",\"crypto\",\"cryptoquant\"],\"articleSection\":[\"Bitcoin News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\",\"url\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\",\"name\":\"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\",\"datePublished\":\"2024-10-01T02:30:24+00:00\",\"dateModified\":\"2024-09-30T18:06:47+00:00\",\"description\":\"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...\",\"breadcrumb\":{\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\",\"width\":1024,\"height\":1024,\"caption\":\"Is Bitcoin Gearing Up for a Big Rally? Here\u2019s What On-Chain Data Reveals\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/wncen.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/wncen.com\/#website\",\"url\":\"https:\/\/wncen.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin & Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/wncen.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/wncen.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/wncen.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500\",\"name\":\"Samuel Edyme\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g\",\"caption\":\"Samuel Edyme\"},\"description\":\"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/wncen.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals","description":"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","og_locale":"en_US","og_type":"article","og_title":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals","og_description":"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...","og_url":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2024-10-01T02:30:24+00:00","article_modified_time":"2024-09-30T18:06:47+00:00","og_image":[{"width":1024,"height":1024,"url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","type":"image\/jpeg"}],"author":"Samuel Edyme","twitter_card":"summary_large_image","twitter_creator":"@0xEdyme","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Samuel Edyme","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#article","isPartOf":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/"},"author":{"name":"Samuel Edyme","@id":"https:\/\/wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500"},"headline":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals","datePublished":"2024-10-01T02:30:24+00:00","dateModified":"2024-09-30T18:06:47+00:00","mainEntityOfPage":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/"},"wordCount":470,"publisher":{"@id":"https:\/\/wncen.com\/#organization"},"image":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","keywords":["bitcoin","bitcoin analysis","bitcoin price","bitcoin price prediction","btc","BTCUSDT","crypto","cryptoquant"],"articleSection":["Bitcoin News"],"inLanguage":"en-US","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/wncen.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","url":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","name":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals","isPartOf":{"@id":"https:\/\/wncen.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage"},"image":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","datePublished":"2024-10-01T02:30:24+00:00","dateModified":"2024-09-30T18:06:47+00:00","description":"Bitcoin has so far seen an uptick in price enough to recover from the losses in value from August. So far, the asset has surged by 10%...","breadcrumb":{"@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#primaryimage","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","width":1024,"height":1024,"caption":"Is Bitcoin Gearing Up for a Big Rally? Here\u2019s What On-Chain Data Reveals"},{"@type":"BreadcrumbList","@id":"https:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/wncen.com\/"},{"@type":"ListItem","position":2,"name":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals"}]},{"@type":"WebSite","@id":"https:\/\/wncen.com\/#website","url":"https:\/\/wncen.com\/","name":"NewsBTC","description":"Bitcoin & Cryptocurrency News Today","publisher":{"@id":"https:\/\/wncen.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wncen.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wncen.com\/#organization","name":"NewsBTC","url":"https:\/\/wncen.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/wncen.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/wncen.com\/#\/schema\/person\/d19b5f18d945fb75e71771134d0e2500","name":"Samuel Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Is Bitcoin Gearing Up For A Bigger Rally? Here\u2019s What On-Chain Data Reveals","url":"http:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin price","bitcoin price prediction","btc","btcusdt","crypto","cryptoquant"],"dateCreated":"2024-10-01T02:30:24Z","datePublished":"2024-10-01T02:30:24Z","dateModified":"2024-10-01T02:30:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Is Bitcoin Gearing Up For A Bigger Rally? Here\\u2019s What On-Chain Data Reveals\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/is-bitcoin-gearing-up-for-a-bigger-rally-heres-what-on-chain-data-reveals\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/DALL\\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin price\",\"bitcoin price prediction\",\"btc\",\"btcusdt\",\"crypto\",\"cryptoquant\"],\"dateCreated\":\"2024-10-01T02:30:24Z\",\"datePublished\":\"2024-10-01T02:30:24Z\",\"dateModified\":\"2024-10-01T02:30:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/09\/DALL\u00b7E-2024-09-30-18.15.00-A-digital-illustration-depicting-Bitcoin-potentially-gearing-up-for-a-larger-rally-focusing-on-what-on-chain-data-reveals.-The-image-features-the-Bit.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645521"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=645521"}],"version-history":[{"count":2,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645521\/revisions"}],"predecessor-version":[{"id":645540,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645521\/revisions\/645540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/645534"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=645521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=645521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=645521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}