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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin SLRV Ribbons Turn Green—What Happens Next?

Keshav Verma
Keshav Verma
1 day ago
2 mins read
Bitcoin

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Este artículo también está disponible en español.

On-chain data shows the Bitcoin ‘SLRV’ Ribbons have recently once again been giving a green signal. Here’s what this could mean for the asset.

Short-Term MA Of Bitcoin SLRV Has Crossed Above The Long-Term

In a new post on X, Capriole Investments founder Charles Edwards has talked about the latest trend in the SLRV Ribbons for Bitcoin. The SLRV Ribbons are based on an on-chain indicator known as the “Short-Term to Long-Term Realized Value (SLRV) Ratio.”

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The SLRV Ratio measures the ratio between the Bitcoin supply that was moved within the past 24 hours and that dormant since at least six and at most twelve months ago.

The supply younger than 24 hours corresponds to the part of the cryptocurrency that’s becoming actively involved in trading. That is, the part of the supply that’s constantly in motion. Meanwhile, the 6 to 12 months old supply represents the coins that have just matured into the domain of the HODLers.

As such, whenever the SLRV Ratio has a high value, it means the short-term trading interest in the asset is high compared to the appetite for HODLing. On the other hand, it being low can indicate long-term holder behavior is dominant in the sector.

The SLRV Ribbons, the actual indicator of focus here, makes it easier to identify when a shift is occurring from one behavior to the other. It does so by tracking the 30-day and 150-day moving averages (MAs) of the SLRV Ratio.

Now, here is the chart for the indicator shared by Edwards that shows the trend in these MAs over the last few years:

Bitcoin SLRV Ribbons
Another crossover seems to have taken place in the indicator recently | Source: @caprioleio on X

As displayed in the above graph, the 30-day MA of the Bitcoin SLRV Ratio has crossed above the 150-day MA recently. This type of crossover is generally a sign that the market is moving away from HODLing to short-term trading and fresh adoption.

From the chart, it’s apparent that such a crossover (highlighted in green) usually leads into some degree of bullish action for the cryptocurrency’s price. The bull rally from the last couple of months of 2024, for example, followed this signal.

The reverse type of crossover, where the 30-day MA falls under the 150-day one, is likewise a bearish signal. When this cross takes place, it means interest in the asset is waning from new investors, leaving only the most resolute hands to continue quietly accumulating.

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With the SLRV Ribbons once again forming a bullish crossover, it now remains to be seen whether the pattern would hold for the asset this time as well.

BTC Price

Bitcoin fell under the $107,000 mark during the weekend, but it would appear the coin has kicked off the new week with recovery as its price is now back at $110,000.

Bitcoin Price Chart
The trend in the BTC price during the past five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, charts from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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