Analysis: Rising Bitcoin "Vigor" indicator suggests the bull market may continue.
TL;DR
Despite recent Bitcoin price declines, the rising 'Vigor' indicator suggests strong underlying demand and ongoing bull market conditions, as it reflects increased on-chain activity and new capital inflow.
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According to Odaily Odaily, crypto analyst "TXMC" published an article on the X platform pointing out that despite the recent decline in Bitcoin prices, the liveliness of this cycle continues to rise. This indicates that there is a bottom in the demand for spot Bitcoin, which is not reflected in the price trend. This may mean that the current bull market cycle has not yet ended. The analyst stated that this indicator reflects the long-term moving average of Bitcoin's on-chain activity, which is the sum of all lifecycle spending and on-chain holding activity. During a bull market, market "liveliness" usually increases as supplies change hands at higher prices, indicating the inflow of new investment capital.