Bitcoin At $82K, But Metrics Don’t Smile: Network Activity Down, Spot Demand ...
On Wednesday, Bitcoin reached its highest level since January, crossing above the $82,000 threshold. However, one analyst has warned that the latest upswing may not be driven by genuine demand. Instead, he describes it as a so-called “speculative trap” and points to signals suggesting there may be little underlying momentum before the market potentially retraces sharply. $83,000 Condition For Bitcoin In a post on X (formerly Twitter), market analyst OxPepesso argued that BTC is moving in a way that looks similar to the “S&P 500 AI bubble,” implying that Bitcoin is largely....
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Although Bitcoin prices made a strong 15% recovery over the past week, metrics suggest more network demand would be needed to sustain further price increases. With several on-chain metrics for Bitcoin (BTC) still in a bearish range, a continuation of the recent price recovery will require increased demand and fees spent over the network, says Glassnode. The assessment of mediocre market growth over the past week came from blockchain analysis firm Glassnode in its latest The Week On Chain report on August 1.In it, analysts pointed to sideways growth in transactional demand, active Bitcoin....
On-chain data shows network activity metrics related to Bitcoin have shot up while the coin’s price has been ranging around $105,000. Bitcoin Network Growth & Circulation Have Both Spiked Recently According to data from the on-chain analytics firm Santiment, Bitcoin has observed a notable uptick in activity during the past week. There are two indicators […]
On-chain data shows Bitcoin network metrics have diverged recently, with active addresses falling even as transaction volume shoots up. Bitcoin Activity Metrics Are Showing A Mixed Picture In its latest Market Pulse report, on-chain analytics firm Glassnode has talked about how a few different activity-related Bitcoin indicators have changed during the past week. The first […]
CryptoQuant’s Network Activity Index for Bitcoin has been locked in a downtrend, suggesting that demand for using the blockchain remains weak. CryptoQuant’s Bitcoin Network Activity Index Has Been Cooling Off As highlighted by CryptoQuant community analyst Maartunn in an X post, Bitcoin on-chain activity has been cooling off recently. The indicator of relevance here is […]
Dogecoin (DOGE) is at risk of a significant price decline due to its network activity, which has remained flat for a while now. Despite a bullish spike in some other metrics, this on-chain metric remains vital for the foremost meme coin’s growth. Dogecoin Network Activity On The Low Data from the market intelligence platform IntoTheBlock […]