Cryptocurrency Unlike last year, the market has spent 2023 with upward movements so far.
Bitcoin, which gained an average of 40% throughout January, brought some of the investors who left the market back to the crypto universe. While previously announced on-chain metrics focused on the main reason for the rise, today’s market follower glassnode shared an important chart.
Has Bitcoin Bottomed?
on-chain According to a new data shared by the tracking platform Glassnode, there may have been a bottom for BTC in the past months.
bitcoin In the table where the profit/loss situation of investors is examined, the ratios of both sides came very close to each other in 2011, 2015, 2019 and 2020, respectively.
Experts once again observed a similar scenario after Bitcoin saw $15,000 with the FTX bankruptcy. Historical data shows that after such a situation, a new bull season has begun in crypto.
Latest Status in Bitcoin
Leading cryptocurrency bitcoinAfter the upward movement in January, it started a horizontal course. Fed Chairman Powell “interest rate hikes may continue” However, BTC’s self-protection gives investors hope for the future.
Once again confirmed by approaching the $22,530 support at the beginning of the week. $BTC It is currently trading around $23,200.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!