Bitcoin briefly dropped below $27,000, hitting a low of $26,940 after failing to surpass resistance at $27,393. Earlier, it reached $27,500 on news of Nomura's Bitcoin adoption fund for institutions.
On-chain data from Santiment shows increased Bitcoin activity since April, especially above $27,000. There's also a rise in dormant Bitcoin movement, indicating wallet activity when prices exceed $27,000.
In September, daily active Bitcoin addresses averaged 1.1 million, the highest since April, suggesting improved network usage.
Analysts suggest this growing on-chain activity might signal a return of the Bitcoin bull run. Currently, it hovers around $27,062, down 0.62%.
On-chain data from Santiment shows increased Bitcoin activity since April, especially above $27,000. There's also a rise in dormant Bitcoin movement, indicating wallet activity when prices exceed $27,000.
In September, daily active Bitcoin addresses averaged 1.1 million, the highest since April, suggesting improved network usage.
Analysts suggest this growing on-chain activity might signal a return of the Bitcoin bull run. Currently, it hovers around $27,062, down 0.62%.
Note
It looks like the market is coming to a point of recoveryNote
The market is moving in the right directionNote
Great. The market is following its structureNote
the next prediction is the market will go up
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.