Currency Economy

Glassnode: $47k showed strongest on-chain support since BTC broke $11k

Cryptocurrency (Mar 08, 2021 11:40PM ET) Glassnode: $47k showed strongest on-chain support since BTC broke $11k

Glassnode: $47k showed strongest on-chain support since BTC broke $11k

On-chain crypto analytics firm Glassnode has reported significant on-chain support was found for BTC at the roughly $47,000 level, describing the event as the largest on-chain support identified since Bitcoin broke above $11,000 in late 2020.

According to a March 8 report from Glassnode, approximately 1.2 million Bitcoin were moved on-chain as BTC’s price traded between $45,500 to $48,900 after bouncing off a local low near $45,000 last week.Bitcoin UTXO Realized Price Distribution. Source: Glassnode

Continue Reading on Coin TelegraphGlassnode: $47k showed strongest on-chain support since BTC broke $11k Add a Comment

Related Articles

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s