Two On-Chain Bitcoin Metrics Have Just lately Reached New Highs

• Glassnode shared that two on-chain metrics for BTC have reached new highs not too long ago.
• BTC’s Quantity of Provide Final Energetic 2y-3y (1d MA) has reached a 2-year excessive of two,675,323.424 BTC.
• BTC is at the moment buying and selling arms at $27,462.55 after a 1.03% worth drop.

The on-chain evaluation platform glassnode alerts (@glassnodealerts) took to Twitter this morning to share some current on-chain metrics for the crypto market chief (BTC). In keeping with these tweets, two of BTC’s metrics reached new highs not too long ago.

BTC quantity of provide final energetic, hourly chart 1d MA, (Supply: Glassnode)

The primary publish by glassnode revealed that BTC’s Quantity of Provide Final Energetic 2y-3y (1d MA) has reached a 2-year excessive of two,675,323.424 BTC. In the meantime, the second publish by the evaluation platform revealed that BTC’s NVT Ratio (7d MA) has simply reached a 1-month excessive of 1,625.697. The earlier 1-month excessive for BTC’s NVT Ratio was 1,620.904, and was noticed on the primary day of April 2023.

BTC NVT Ration, Hourly chart 7d MA, (Supply: Glassnode)

As well as, the crypto market monitoring web site CoinMarketCap signifies that BTC is at the moment buying and selling arms at $27,462.55 after a 1.03% worth drop during the last 24 hours. Regardless of this, BTC was in a position to strengthen in opposition to its competitor (ETH) by roughly 0.49%.

BTC worth (Supply: CoinMarketCap)

This 24-hour efficiency from the crypto king pushed its weekly efficiency even additional into the pink. At press time, BTC is down greater than 8% during the last seven days. BTC’s 24-hour buying and selling quantity additionally at the moment stands at $14,258,856,974 after a greater than 7% enhance since yesterday.

The current worth motion for BTC has introduced down its market cap to $531,670,140,785 at press time. However, BTC was nonetheless in a position to outperform the altcoin market during the last 24 hours, as its market dominance has elevated round 0.09% throughout this era.

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