Cryptocurrency (Apr 06, 2021 11:40AM ET)
Bitcoin’s $1-trillion market holds for 10 days straight
More than 10% of Bitcoin’s supply has been moved while its market capitalization has been more than a trillion dollars since March 26, indicating strong support in the middle- and upper-$50,000 price range.
According to Monday’s “Week On-chain” report from on-chain analytics provider Glassnode, Bitcoin (BTC) has enjoyed a $1-trillion market capitalization for more than one week for the first time. “This is a strong vote of confidence for Bitcoin and the cryptocurrency asset class as a whole,” the report said.BTC UTXO Realized Price Distribution: Glassnode