Bitcoin Risk-Reward Remains Compelling Even After Price More Than Doubled in a Year

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 100 million users worldwide. Let's take a look at the chart of the day. The price of Bitcoin has more than doubled in the past year. But the lead in Cryptocurrency continues to offer an appealing risk reward ratio for those eyeing an investment. Bitcoin's reserve risk indicator which measures the confidence of long term holders based on their willingness to defer spending coins remains entrenched in the so called green zone below 0.002. That's according to data tracked by crypto quant. The low reading is a sign that long term holders are motivated to hold that Bitcoin's going market rate rather than sell reserve risk tends to oscillate in sync with bullish and bearish trends. Historically, the green zone below 0.0027 has marked a slow transition from the final stage of a bear market into a bull market. Could this mean that we are heading into a full on bull market? Only time will tell that's it for today's chart of the day. I'm Jen Sani. We'll see you next time to unpack more of the data behind top news stories.