Top On-Chain Metrics All Signaling End of Bitcoin (BTC) Bear Market, According to Analytics Firm Glassnode
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A slew of on-chain metrics are hinting that the Bitcoin (BTC) bear market could be in the rearview mirror, according to the crypto analytics firm Glassnode. In a new YouTube video, the analytics firm acknowledges that “nobody really knows” if the BTC bear market is actually over. However, Glassnode says there are a handful of key metrics that suggest the market could be changing. The analytics firm notes that BTC has been above its realized price (RP) and 200-day moving average (MA) for most of 2023. RP records the value of all BTC at the price they were most recently
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally. Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data…
On-chain data from Glassnode shows the largest Bitcoin whales have been showing the opposite behavior to what other investors have been doing. Bitcoin Market Is Observing A Moderate Distribution Phase Currently According to data from the on-chain analytics firm Glassnode, the behavior of the largest BTC whales has once again…
Bitcoin (BTC) experienced sharp declines until a few days ago. At that point, the price dropped to $80,000, but now, with a recovery, BTC has climbed above $90,000. While the surge has been driving the market, on-chain analytics firm Glassnode said in its latest analysis that the Bitcoin price is…