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Bitcoin’s Price Struggles to Break Out as Exchange Deposits Crash to Lowest Levels Since 2016
The crypto market has been in a state of equilibrium for the past few days, with Bitcoin struggling to break out and push through key resistance levels. As we discussed earlier today, the whale cluster activity is still muted, which raises questions about the likelihood of a significant price move.
Now, I’d like to focus on an important metric that might shed some light on this situation.
**Input/Output Ratio Signals Equilibrium**
In a recent post on Twitter, @satoshibluth has shared some fascinating data regarding Bitcoin’s input/output ratio (IOR). This metric is crucial in understanding the flow of funds within the ecosystem.
As you can see from the chart below, IOR has plummeted to its lowest levels since 2016. What does this mean?
Source: bitcoinist.com
