Bitcoin drops to $34K as the number of daily active addresses reaches a five-month high. The Bitcoin network has 1.17 million unique active addresses conducting transactions, the highest number since December 2, 2021.
There seems to be light at the end of the tunnel for a breakout in the Bitcoin market because the multi-month downtrend witnessed on the momentum indicator has broken out to the upside. (Read More)Source blockchain.news
With the price staying below the short-term holder (STH) cost basis for nearly a week, on-chain analyst Will Clemente believes that Bitcoin needs to reclaim the $53K area if a bull run is to be reignited. (Read More)Source blockchain.news
Bitcoin miners have been on the right footing after relocating other areas like the United States, Kazakhstan, and Iraq because the hashrate has nearly fully recovered based on a 93% surge. (Read More)Source blockchain.news
On-chain analyst Matthew Hyland believes the current consolidation in the Bitcoin market might be the calm before the storm because the Bollinger Bands (BB) have shrunk to levels last seen in October 2020 when the price was at $10,000. (Read More)Source blockchain.news