Is Bitcoin Gearing Up for a Breakout? On-Chain Signals Say ‘Watch This Level’
Bitcoin continues to trade below its recent all-time high as selling pressure and macroeconomic developments keep the asset in consolidation. At the time of writing, BTC is priced at $104,835, down 2.1% over the past week and around 6.3% off from its peak of $111,814 recorded last month. Despite the broader trend, on-chain data reveals emerging patterns that may signal what could come next in the market. Following the Federal Reserve’s decision to keep interest rates unchanged in its latest policy meeting, analysts have noted diverging trends in Bitcoin’s price and derivatives market....
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