This on-chain metric suggests Bitcoin’s next big rally may just be getting started

BTC $10,807 (+9.5%) • ETH $323 (+4.8%) • XRP $0.223 (+3.4%)

After a prolonged period of sideways trading, Bitcoin’s volatility is starting to return to normal levels, with the cryptocurrency now venturing towards the top of its macro trading range.

Overnight, buyers were able to send BTC’s price flying past the five-figure price region, although it faced a firm rejection at $10,200 that caused its price to slide back below $10,000.

Throughout 2020, Bitcoin has broken above $10,000 on countless occasions, with each one proving to be fleeting and followed by further downside.

One indicator is showing that this time may be different.

A measurement of on-chain economic activity suggests that long-term investors aren’t selling at the moment – unlike previous breaks above this crucial psychological price level.

Read the full story here ➡️


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