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Analysis: Three long-term on-chain indicators reach average support levels, indicating a bullish outlook for Bitcoin

CryptoQuant analyst Avocado wrote that several of Bitcoin's on-chain data points have reached average support levels, indicating a potential major turning point in the long run. 1. The 7-day moving average of the Fund Flow Ratio has touched 0.05 and is now showing a slight rally. This indicates that investors are starting to trade on the exchange again. The 0.05 level has historically been the main support line for the indicator to stop falling and start rebounding. This rally usually occurs at the end of a bear market or halving event and the beginning of a bull market, causing bitcoin prices to rise sharply for a long time. 2. The 30-day moving average of the Estimated Leverage Ratio forms a key support range between 0.15 and 0.175 and is currently showing signs of recovery and upside. With the approval of a post-2021 futures ETF and recent positive news on bitcoin options trading, it believes the impact of this indicator will continue to grow. 3. Binary CDD's 30-day moving average moves between 0.1 and 0.3, indicating that long-term holders are accumulating bitcoin. When this value increases significantly, it usually signals the end of a bull market. Avocado concluded that from a long-term perspective, these support levels and bitcoin's recent movements are very positive.