Bitcoin, the world’s largest cryptocurrency by market cap, broke the $57,000 price level based on strong fundamentals and favorable on-chain data.
Bitcoin surges
Bitcoin broke the $56,000 level Thursday and surged to the $57,000 price level, one that saw a huge selling at last week and a local peak last month. Sentiment for the world’s largest cryptocurrency is strong as there was no major negative news or other setbacks at press time.
Data from on-chain analytics service IntoTheBlock shows a “mostly bullish” environment for Bitcoin. Despite that, two indicators predict “bearish” activity while four on-chain trackers show a “bullish” sentiment for the asset’s mid-term price moves.
The bearish signs are low ‘net network growth’ at -0.44%. The indicator calculates the true growth of the market using new addresses minus the addresses which go to zero. Another bearish element is the falling number of ‘large transactions’ (-1.30% at press time), meaning the on-chai
Źródło: https://cryptoslate.com/bitcoin-breaks-57000-as-on-chain-data-turns-mostly-bullish/
