On-chain Bitcoin (BTC) data hints at a second phase to this bull market

Currently, the global crypto market capitalization is below $2 trillion, primarily due to Bitcoin (BTC) undergoing a minor sell-off after reaching a high of $48,251 on August 14, which has a bearing on the broader market’s direction and pull.

Bitcoin’s price is $45,214 at the time of publication, down 1.90% in the last 24 hours and 2.28% in the past week and market dominance of 44.3%, according to CoinMarketCap.com data.

Despite the minor retracement, on-chain analytics expert Plan B has identified that Bitcoins stock-to-flow (S2F) and on-chain signals still indicate a second leg to this bull market.

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