Bitfinex analysts say BTC is in “transition”

The number of Bitcoin wallets with non-zero BTC balance recently hit a new all-time high of 45.388 million. However, daily active addresses and daily confirmed transactions have fallen. Bitcoin price remains bullish but analysts urge caution as on-chain metrics indicate weakness amid renewed correlation with S&P 500. Bitcoin price currently trends above$28,300, about 0.7% higher […]

Bitcoin on-chain metrics are now bullish: Bitfinex

Bitfinex market report points to bullish metrics for BTC Supply in Profit, Bitcoin Realised HODL (RHODL) Multiple and Reserve Risk ratio are all flashing green. Bitcoin has traded to above $23k again after slipping on Monday following broader market reaction to economic news. Bitcoin is trading around $23,360 at the time of writing, about 2.4% […]