4 on-chain metrics suggest Bitcoin price rally may not stop at $16,000
Bitcoin price is defending the $15,000 support and on-chain data signal that the rally may continue beyond $16,000. After rejecting at $15,960 on Nov.6 Bitcoin (BTC) price has been defending the $15,000 support level with strength. Based on four on-chain data points, analysts believe the rally might continue beyond $16,000.Analysts have pinpointed lower Bitcoin exchange reserves, unmoved supply, a rise in “stronger hands,” and unrealized profits as factors for the rally to continue.The number of BTC held on exchanges dropsRecently, Delphi Digital, an independent cryptocurrency research and....
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