May 7, 2021 12:31 GMTCrypto News
Bitcoin price has surprisingly remained in a lull despite this week’s astonishing rate of adoption.
From indexes to Micro BTC futures, the fundamental nature of the flagship cryptocurrency has grown.
Multiple on-chain indicators hint at an incoming price explosion.
Bitcoin price faces a stiff resistance wall that has prevented weak bullish momentum from passing through. As a result, a short-lived retracement has caused a majority of the market to follow suit despite BTC’s raging adoption and interest from institutions over the past week.
Slowly, then all at once
Perhaps the most significant development surrounding Bitcoin over the past week was the introduction of Bitcoin, Ether and Cryptocurrency MegaCap indexes by S&P Dow Jones Indices.