Bitcoin’s Quiet Bull Signal: On-Chain Trends Hint at Another Price Breakout
Bitcoin has experienced a notable rebound over the past week, following a brief period of downside pressure earlier this month. After dropping below $80,000 amid the tariff turmoil, the asset has regained its losses and is now trading above $85,000. This recovery marks a nearly 10% surge over the last seven days and comes as investors reassess macroeconomic cues and on-chain signals. Related Reading: Bitcoin Price Forecast: What Experts Anticipate Following The Jump Toward $85,000 Bitcoin On-Chain Trends Indicate Continued Uptrend The market’s resilience appears to be underpinned by....
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On-chain data is showing more and more similarities to mid- and late-2020 — the springboard period for the Ether and Bitcoin bull market. Bitcoin (BTC) and Ether (ETH) have started showing “remarkable” bullish divergences that echo the start of bullish price trends.That’s according to the latest data collected by on-chain analytics firm Glassnode this week. BTC, ETH data mimics “mid to late 2020”In its latest weekly report, “The Week On-chain,” Glassnode revealed that while price action remains quiet, on-chain metrics suggest that it could well be lagging behind much more bullish....
A look back at 2021’s most important events and on-chain trends for bitcoin’s price action, as well as a brief look forward into 2022.
The last quarter of the year has included the most exciting bitcoin trading of the entire year, but the rest of the year will likely see a lull in trading and a consolidation around current levels. Any fall down below $400 will represent further price softness into the New Year, it seems. However, since we are now on the cusp of two holidays – both Christmas and the New Year – trading volume will decrease on all markets, including Bitcoin, likely leading to further price uncertainty. After having fallen nearly 10% to a 1-week low, some have wondered if Bitcoin’s price will settle in the....
Bitcoin has dropped over the past few days after news revealed that OKEx had frozen withdrawals. The price of the leading cryptocurrency slipped from $11,750 to $11,450 where it is now. The leading cryptocurrency is primed to appreciate in the long run despite short-term weakness. One crypto-asset analyst noted that there is a confluence of on-chain trends showing Bitcoin is bullish. Four of those metrics are as follows. Bitcoin’s On-Chain Trends Are Bullish, Data Shows […]
The Puell Multiple just flashed a buy signal for the fifth time in BTC’s history, but its creator cautions that a plunging hashrate and China’s miner purge are important factors to consider. The cryptocurrency market found itself in a state of cautious optimism on June 28 after Bitcoin (BTC) price briefly spiked above $35,500, renewing hopes that the bull trend will resume shortly. Despite the bullish move, some analysts have warned that the failure to secure a daily close above the $35,000 resistance is a sign that traders are simply closing positions at each breakout to resistance, a....