NFT News by Thebittimes.Com

As per on-chain data, the trading volumes have sustain ed, even a day after Tuesday’s pump. On-chain data provider Santiment explains that trading activity remains substantial following the recent price increases across the cryptocurrency market. advertisement Notably, there is a significant resurgence of trader attention on Bitcoin. If Bitcoin maintains its current range between $27,000 and $28,000, the situation should stabilize. However, if the price deviates beyond this range, increased volatility is probable. courtesy: Santiment Large holders in the cryptocurrency space, often referred to as whales and sharks, might have had insights about the Grayscale and SEC legal case’s result. On the day prior to the news, wallets holding 10,000 to 10,000 Bitcoin (BTC) collectively acquired around $388.3 million worth of BTC. Watch Out for Bitcoin Technical Indicators Over the last few weeks, Bitcoin has been showing weakness on the technical charts...

However, the on-chain data for Bitcoin shows an overall improvement in network activity. While the BTC price recently corrected from $32,000 to $29,000, the total number of new Bitcoin addresses has continued to rise. “ This bullish divergence between price and network growth hints at a stable long-term BTC uptrend. Buy the dip!” writes popular crypto analyst Ali Martinez.  advertisement Courtesy: Glassnode Other on-chain indicators also signal a bullish momentum for Bitcoin. Martinez explains: “ All major $BTC oscillators (MVRV, aSOPR, Puell Multiple, and Reserve Risk) continue to hover above the 0 line. This indicates the ongoing price correction might just be a blip”. Courtesy: Glassnode/ Ali Martinez Bitcoin Golden Cross, BTC Price Recovery Begins In a post on TradingView last week August 4, crypto trading analyst TradingShot noted that Bitcoin has just crossed the golden-cross indicator for the third time in history. Thus, it ...