Bitcoin breaks $57,000 as on-chain data turns “mostly bullish”
The global crypto market cap is $1.74T, a 0.12% decrease over the last day.
Author: Shaurya Malwa
Bitcoin, the world’s largest cryptocurrency by market cap, broke the $57,000 price level based on strong fundamentals and favorable on-chain data.
Bitcoin broke the $56,000 level Thursday and surged to the $57,000 price level, one that saw a huge selling at last week and a local peak last month. Sentiment for the world’s largest cryptocurrency is strong as there was no major negative news or other setbacks at press time.
Data from on-chain analytics service IntoTheBlock shows a “mostly bullish” environment for Bitcoin. Despite that, two indicators predict “bearish” activity while four on-chain trackers show a “bullish” sentiment for the asset’s mid-term price moves.
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