Key Points:
According to Santiment, Bitcoin continues to have a high connection with the S&P 500, which “limited the chances of an upcoming bull run.”
Messari, on the other hand, observes that Bitcoin moving averages have just formed a golden cross. When an asset’s 50-day moving average crosses above its 200-day moving average, it is said to “historically presage strong returns” over six-month and one-year time frames.
Messari, on the other hand, observes that BTC moving averages have just formed a golden cross. When an asset’s 50-day moving average crosses above its 200-day moving average, it is said to historically presage strong returns over six-month and one-year time frames.
At the time of writing, Bitcoin is trading at $21,824. The top-ranked crypto asset by market size has dropped 0.53% in the last 24 hours and nearly 7% in the previous week, but it is still up around 30% since the beginning of 2023.
Glassnode, another crypto analytics business, reports that BTC’s HODLer net position change has reached a three-month high of 49,473.346 BTC. HODLer Net Position Change tracks the monthly position change of long-term investors, indicating that they have spent the previous month collecting BTC.
According to Glassnode, the seven-day moving average of Bitcoin’s average transaction size reached a five-year high of 986.575 BTC on Friday.
Despite this year’s price advances, Bitcoin is still down more than 68% from its all-time high of roughly $69,000, which it reached in November 2021.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Consensys Linea Decentralization advances with the new Swiss-based Linea Association, promoting governance, growth, and a…
Uncover the tale of a meme aficionado who parlayed a modest Pepe Coin investment into…
With the cryptocurrency market positioning itself for an upsurge within the years 2024–2025, it is…
Bitcoin trading volume has surged to an all-time high of $145 billion in the last…
Italy considers lowering its proposed Italy crypto tax increase to 28% from an initial 42%,…
Bitcoin Spot ETF Inflows Hit $818M as Net Inflow Streak Extends to 5 Days, with…
This website uses cookies.