The broader digital currency ecosystem has taken a new twist with the price of Bitcoin (BTC) slipping by 2.02% in 24 hours to $68,186.09. This price action generally contrasts with the combined industry’s market capitalization that is up 7.93% to $2.56 trillion. Despite this trend, more than 3 Bitcoin metrics show that a bullish price rally might be ahead.
Key Bitcoin Price Metrics To Watch
According to on-chain data, the Bitcoin trading volume over the past 24 hours shows a 26.17% surge to $32,682,766,117. This data in its simplest form shows that beyond the short-term knee-jerk reaction in the market, buying interest is existing among swing traders.
The market appears to be recovering after news of alleged jail conversations of pro-Bitcoin US Presidential Candidate Donald Trump started making the rounds. After Bitcoin dropped by as much as 3%, it is now in recovery mode.
On a more advanced stretch, the premier coin’s Open Interest is currently in recovery mode, jumping marginally
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