Bitcoin dips, but on-chain data hints at a potential bull run.
Updated
Bitcoin briefly dropped below $27,000, hitting a low of $26,940 after failing to surpass resistance at $27,393. Earlier, it reached $27,500 on news of Nomura's Bitcoin adoption fund for institutions.
On-chain data from Santiment shows increased Bitcoin activity since April, especially above $27,000. There's also a rise in dormant Bitcoin movement, indicating wallet activity when prices exceed $27,000.
In September, daily active Bitcoin addresses averaged 1.1 million, the highest since April, suggesting improved network usage.
Analysts suggest this growing on-chain activity might signal a return of the Bitcoin bull run. Currently, it hovers around $27,062, down 0.62%.
On-chain data from Santiment shows increased Bitcoin activity since April, especially above $27,000. There's also a rise in dormant Bitcoin movement, indicating wallet activity when prices exceed $27,000.
In September, daily active Bitcoin addresses averaged 1.1 million, the highest since April, suggesting improved network usage.
Analysts suggest this growing on-chain activity might signal a return of the Bitcoin bull run. Currently, it hovers around $27,062, down 0.62%.
Note
It looks like the market is coming to a point of recoveryNote
The market is moving in the right directionNote
Great. The market is following its structureNote
the next prediction is the market will go up
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