This Metric Suggests Bitcoin Could Be In Danger Of Another Selloff

A Bitcoin on-chain indicator is currently forming a pattern that has previously led to significant selloffs of the cryptocurrency.
Bitcoin 100-Day SMA Supply Adjusted Dormancy Has Rapidly Gone Up
As pointed out by an analyst in a CryptoQuant post, the selloff could potentially be even stronger than the one seen in November 2018. A relevant concept here is of a “coin day,” which is the amount of 1 BTC accumulated after sitting still on the chain for 1 day. Thus, when a token stays dor