While Bitcoin (BTC) is in the range of $ 25-30 thousand, attention was drawn to three important metrics to watch for the bull rally.
On-chain analytics platform centiment In the report published on its official website on April 25, Bitcoin’s bull rally to be permanent for transaction volume, your daily active addressesAnd market circulation mentioned that it should give compatible outputs. Santiment also hinted that the uptrend could be a bull trap.
In this context, the platform’s transaction volume, March 14 Bitcoin on 25 thousand rapidly from the date of exceeding the dollar experiencing a decline And 30 thousand your dollar by exceeding together your volume from the beginning of the year since to the lowest levels stated that he had regressed.
Also daily in circulation found of bitcoin as well as transaction volume. March took place in the month Small some amount from the rise then big greatly reduced included in the report.
On the other hand, on the network number of interacting wallets per day Unlike the other two metrics, it has a more positive to the image he had. However, the platform 2020 And 2021 occurred in the years in bull rallies your performance is very that you’re under drew attention. The report states that since the beginning of 2023, the Bitcoin price 65% increasing, daily active addresses %11th reported to increase.
In the report, the present outputs pessimistic pointing to a table if not also on chain data before a bull rally seeing improvement attention was needed. Moreover whale activities And investor costs Things to consider before a bull rally factors it was underlined.
According to Coinecko data, the latest 30 days in %one depreciating BTC, last 24 hours in 0.2% drop by living writing 27,400 traded at the dollar level.
