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Bitcoin's Metrics Are Strong, Fueling Positive Market Sentiments And Potentially Sustained Bull Run
Summary: Multiple metrics suggest that Bitcoin's bull run is here to stay, Glassnode data suggests. Realized price, a metric which can help determine Bitcoin's value, is on the rise meaning that buyers are coming into the market at higher price points. Data from Glassnode also shows that when Bitcoin's price jumped past $11,000 95% of Bitcoin ...
Multiple metrics suggest that Bitcoin's bull run is here to stay, Glassnode data suggests.
Realized price, a metric which can help determine Bitcoin's value, is on the rise meaning that buyers are coming into the market at higher price points.
Data from Glassnode also shows that when Bitcoin's price jumped past $11,000 95% of Bitcoin UTXO, unspent output from Bitcoin transactions, went into profit. The high amount of Bitcoin in profit means that investors are holding on to their assets rather than selling to cash in on those earnings.
These metrics combined with Bitcoin's open interest being on the rise, an indicator that more money is moving into the market, create a strong argument that Bitcoin's price will continue to increase.
By Emily Mason
Tags: Bitcoin,BTC,Glassnode,On-Chain Metrics
Link: Bitcoin's Metrics Are Strong, Fueling Positive Market Sentiments And Potentially Sustained Bull Run [Copy]
