Bitcoin shows signs of bottoming per these two metrics
The cryptocurrency market remains down from peak levels, despite yesterday’s short-lived bounce. Amid the prevalent fear on the crypto market, the Cryptocurrency Fear and Greed Index fell to 8 on May 17th, which marks dire “extreme fear” levels.
According to on-chain analytics platform Santiment, Bitcoin’s idle addresses have become more active this past week, resulting in a spike in the Age Consumed. Typically, when Age Consumed spikes occur during price declines, it infers that weak hands are exiting positions.