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This one key Bitcoin metric holds the cards to the bull run

Bitcoin crossed $12,000 and slid under the range, yet again. Speculation with respect to an imminent bull run is almost unavoidable at the moment. With every key metric turning plush green every day, for more proponents, the next big rally for Bitcoin is seemingly around the corner. Bitcoin’s Short-Term Holder metric conveyed the same sentiment at press time. Source: Twitter According to the above glassnode chart, BTC’s Net Unrealized Profit/Loss (NUPL) has now held a positive position for a good part of the last four months. Glassnode Founder Rafael Schultze-Kraft stated that historically such a scenario has been identified with previous…

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Bitcoin rallies are cohesive with multiple metrics now

With Bitcoin’s price gathering positive momentum in its price charts, some of the important metrics were beginning to witness a shift. The largest digital asset recently breached over the $11,500 once again and it is currently marching towards a re-test of the $12,000 resistance. With the price climbing the valuation ladder, the Glassnode indicated that the asset’s realized price reached an all-time high. Realized price, which is different than the realized market is estimated by dividing the realized cap by circulating supply. An increasing realized price for Bitcoin suggested that the distribution of BTC is taking place, with buyers coming…

Continue Reading Bitcoin rallies are cohesive with multiple metrics now

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