How Bitcoin back above $60,000 could create more upside move newsbtc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsbtc.com Daily Mail and Mail on Sunday newspapers.
Bitcoin Selling Pressure is Declining, Hints Key Glassnode Indicator
Even as the bitcoin market shows signs of bullish exhaustion after logging a 1,500-percent-plus upside move in the previous 13 months, all is not lost. Investors with a long-term growth outlook still want to hold onto the flagship digital asset, iterating their expansive bullish stance on it.
The analogy appears out of a chart from Glassnode, a blockchain analytics firm that determines Bitcoin’s market bias based on on-chain indicators. One of its benchmark offerings is a tracking tool that studies Bitcoin wallets based on their net position holdings. In retrospect, the lesser the wallet owners spend their bitcoin, the higher their bullish bias is.
Bitcoin traders are starting to get worried, Tesla is told to sell off its crypto and buy back shares instead, and Kings of Leon wade into the NFT craze.
Crypto Carnage Continues As 'Whale Wars' Rage zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.