Five On-Chain Indicators Show The Crypto Bull Run Is Just Getting Started

According to Odaily Planet Daily, analyst "ELI5 of TLDR" stated in an article that five on-chain indicators indicate that the crypto bull market has just begun. Specifically: Bitcoin’s market share exceeds 56%, and according to TradingView, this metric has been above 50% since October 2023. The Bitcoin MVRV Z-Score is below 6 and has not exceeded 6 since March 2021. The Puell Multiple has not yet surpassed 3, and according to data from Coinglass, the Puell Multiple fell below 1 after the halving on April 20. Data from HODL Waves shows that the decline in the new wave peak indicates that selling pressure has been exhausted and there may be room for more upside. An indicator of Bitcoin miner revenue per hashrate shows two past spikes to $0.3/Th/s, both during previous market cycle peaks.