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bitcoin
Bitcoin (BTC) $ 37,925.16
ethereum
Ethereum (ETH) $ 2,049.44
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 229.88
usd-coin
USDC (USDC) $ 0.99903
xrp
XRP (XRP) $ 0.611141
binance-usd
BUSD (BUSD) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.080959
cardano
Cardano (ADA) $ 0.384871
solana
Solana (SOL) $ 58.36
matic-network
Polygon (MATIC) $ 0.752524
polkadot
Polkadot (DOT) $ 5.28
tron
TRON (TRX) $ 0.10305
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    HomeCrypto Finance

    Bitcoin on-chain knowledge highlights key similarities between the 2019 and 2023 BTC value rally

    Crypto Finance
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    Bitcoin’s (BTC) current value rally from $16,500 to $25,000 might be attributed to a brief squeeze within the futures market and current macroeconomic enhancements. Nonetheless, whereas costs elevated, knowledge suggests many patrons (together with whales) have been left on the sidelines.

    The current rally to $25,000 shared many similarities with the 2019 bear market rally, which noticed a 330% surge in Bitcoin’s value to highs round $14,000 from the November 2019 low of $3,250. The pair not too long ago rose 60% from its November 2022 low.

    tackles historic buying and selling ranges

    BTC/USD every day value chart with 200-day MA metric. Supply: TradingView
    Evaluating the time from the underside to native high in 2019 and 2023. Supply: Twitter

    A stablecoin provide ratio oscillator is near the 2019 high

    Bitcoin’s stablecoin provide ratio (SSR) oscillator. Supply: Glassnode
    Variety of BTC addresses with steadiness greater than or equal to 1,000. Supply: Glassnode

    Information highlights a vital bull-bear pivotal level

    7-day MA of Bitcoin’s adjusted SOPR indicator. Supply: Glassnode

    Proceed Studying on Coin Telegraph

    See also  Ripple CEO and SEC Chairman to debate crypto regulation at DC Fintech Week
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