Four Metrics Suggest the Bitcoin Market Bottom Is Near
Several technical and on-chain metrics suggest Bitcoin is approaching a market bottom following its recent drop to $20,800.
Source: cryptobriefing.com
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Supply crunch incoming? Bitcoin miners stop selling
Supply crunch incoming? Bitcoin miners stop selling Bitcoin continues to consolidate in the high $50,000 area, meanwhile, its fundamentals are strengthening and seem to point towards a price breakout. Analyst Ali Martinez has shared data from Glassnode to predict the timing for a new BTC price rally. According to the analyst, when the cryptocurrency surpasses the 1 million threshold in the metric Entity-Adjusted Dormancy Flow, historically BTC “goes parabolic.” Despite Bitcoin’s nearly 1,500% increase in a year, it is still below this threshold. The analyst stated: Despite the 1,465% su...
Source: newsbtc.com