On-chain Data Shows Bitcoin Price Move Past $28k Resistance
As can be gleaned from the coin’s current price actions, it soared to a high of $28,432.04 over the past 24 hours. The sideways movement spurred by a volatility that has proven to be mild but dynamic has prevented the coin from maintaining the $28,000 price level as support. advertisement Based on the current price of Bitcoin , there are a number of important metrics to watch out for as pointed out in the Glassnode report. For one, the Short Term Holder’s unrealized profit or loss has cooled off and has returned back to a break-even level of 1.0 before bouncing back to 2.6. Glassnode also pointed out that the proposition for a more bullish growth for the premier digital currency will be hinged on the cyclical trends in the long term supply. There is an indication that long term holders are more consistent in their buyups, even though there are seasons when they exhibit cooling periods. Recommended Articles ...