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Bitcoin's Network Health Declines For Second Week In A Row, But Metrics Are Still Strong
Summary: Bitcoin's network health lost seven points in Glassnode's network index, a metric which tracks various indicators across the blockchain. This week marks the second in a row where the network index for Bitcoin has declined. The sub-indices network growth and network health both declined over the week. Liquidity also decreased by nine points falling from ...
Bitcoin's network health lost seven points in Glassnode's network index, a metric which tracks various indicators across the blockchain.
This week marks the second in a row where the network index for Bitcoin has declined. The sub-indices network growth and network health both declined over the week.
Liquidity also decreased by nine points falling from what Glassnode deems as bullish territory into a neutral zone. A recent decrease in on-chain transactions could have contributed to this fall, however balances of BTC on exchanges have been on the rise after a recent drop off.
Investor sentiment gained two points as holding behavior shot up. Despite the mixed network readings, Bitcoin's overall network index score is still high enough to support a bullish outcome.
Emily Mason
Tags: Bitcoin,BTC,Glassnode
Link: Bitcoin's Network Health Declines For Second Week In A Row, But Metrics Are Still Strong [Copy]
