Su Zhu, co-founder and CEO of Three Arrows Capital hedge fund, said in a Twitterthat found a rare signal that could indicate the possibility of a bargain purchase of bitcoin. According to Zhu, this signal has appeared six times in the entire history of Bitcoin. Writes about this RBC Crypto.
Dormancy flow buy signal on $ BTC, very rare, only six times in history pic.twitter.com/eNU5lY9sOH
— Zhu Su 🔺 (@zhusu) January 11, 2022
The Three Arrows Capital chapter refers to the idle flow indicator, which displays the period during which bitcoins remained “illiquid” before they started moving. The current value of the indicator, which Zhu is pointing to, may indicate that there is no selling pressure on the bitcoin rate.
Also Zhu addedthat at the moment bitcoin is in a long phase of accumulation.
Illiquid supply has been rising sharply since July 2021, in line w the accumulation trend from Jan 2019 to Apr 2021$ BTC pic.twitter.com/IvOk4NZefe
— Zhu Su 🔺 (@zhusu) January 11, 2022
On January 12, Bitcoin is traded at $ 42.8 thousand. Over the day, the cryptocurrency has risen in price by 2%, and its capitalization has increased to $ 810 billion, according to CoinGecko. In early November last year, the asset renewed its all-time high above $ 69 thousand. Since then, it has fallen in price by 38%.
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