The article highlights the importance of on-chain data in understanding the true story of Bitcoin (BTC) beyond its price movements. On-chain data refers to the publicly available transaction records on the Bitcoin blockchain, providing real-time visibility into supply, demand, and investor behavior. Key on-chain metrics discussed include Realized Price, the MVRV Z-Score, the 1+ Year HODL Wave, HODL Waves, Supply Adjusted Coin Days Destroyed, and the Spent Output Profit Ratio (SOPR). These metrics help investors identify major trends, accumulation zones, potential overvaluation, profit-taking, and distribution. By analyzing multiple on-chain indicators, investors can make more informed decisions and increase their chances of long-term success in the Bitcoin market. The article concludes with a disclaimer that it is for informational purposes only and not financial advice.



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