In an extraordinary run, Bitcoin has managed to go as high as $64,000, but is this rally justified? Here’s what on-chain data suggests.
Data shows the Bitcoin average transaction count has risen to the highest level since April 2021, indicating that the asset’s price could be bullis
On-chain data shows demand for Bitcoin has been returning recently, but the rise has been slower than what previous cycles saw at a similar stage.<
Data shows the Bitcoin spot trading volume has slightly gone up after the rally but is still significantly lower than the average for the 2nd half
Data shows the Bitcoin trading volume has plunged to a 3-month low as renewed market volatility due to the FTX fiasco fades away.
Data shows the Bitcoin spot trading volume has surged up 46% in the past week, as a result of the latest rally in the price of the crypto.
Bitcoin is currently trading below $19,000 after marking a new two-month low for the digital asset.
Data shows the Bitcoin trading volume has remained near one-year highs recently as activity on Binance stays elevated following the fee removal.
Data shows the Bitcoin trading volume is now once again moving sideways at a low average value as activity on the network slows down to a crawl.
