Analyst: Bitcoin "activity" indicator rises, signaling that the bull market may continue

On December 7, according to Cointelegraph, analyst TXMC stated that the technical indicator Liveliness is rising, which historically usually represents bull market activity and may mean that the current market cycle is not yet over. TXMC said: “Despite the price decline, Liveliness in this cycle continues to rise, indicating that the demand floor for spot Bitcoin is holding, but it has not yet been reflected in the price trend.” The analyst explained that this indicator is similar to a long-term moving average of on-chain activity, serving as a cumulative comparison between all on-chain spending and holding behavior. He added: “When tokens are generally being transacted more frequently on-chain, the indicator rises; when more are being held, it declines, and it is weighted based on the holding time of these tokens. During bull markets, Liveliness usually increases because supply changes hands at higher price levels, representing new capital constantly being injected.”