Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Bitcoin experiences dip, but on-chain activity suggests potential bull run By Investing.com

by Index Investing News
September 20, 2023
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


© Reuters.

‘s value dipped briefly below $27,000 on Wednesday, reaching a low of $26,940 in recent trading. The fall came after investors’ failed attempts to push the cryptocurrency beyond the $27,393 resistance level. Just on Tuesday, Bitcoin had peaked at $27,500, spurred by the announcement that Nomura, Japan’s leading investment bank, was setting up a fund to encourage Bitcoin adoption among institutional investors.

On-chain analytics firm, Santiment, reported a significant rise in Bitcoin’s on-chain activity from levels recorded since April. The increased activity was particularly noticeable when Bitcoin’s value rebounded past $27,000 and active addresses maintained high numbers.

Santiment also observed a surge in dormant Bitcoin activity. This suggests that cryptocurrency wallets moved their coins when the value exceeded $27,000. Moreover, there has been an uptick in Bitcoin utility. In fact, Sunday marked the third most significant day for dormant Bitcoin movement over the past three months when Bitcoin’s price surpassed $27,000.

Throughout September, Bitcoin averaged 1.1 million active addresses daily — the highest count since April. The increase in dormant Bitcoin activities indicates that wallets are shifting their coins whenever the price moves above $27,000.

Cryptocurrency analyst Ali highlighted the correlation between growing on-chain activity and Bitcoin’s price. He proposed that increased on-chain activity often characterizes a bull run. Ali noted that the monthly average of new wallets has now surpassed yearly averages, pointing to improved network fundamentals and increased usage.

Despite stable prices, Ali speculated that expanding on-chain activity might signal an impending resumption of the Bitcoin bull run. At the time of reporting, Bitcoin was maintaining a slightly above $27,000 value and was down by 0.62% to $27,062.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



Source link

Tags: activitybitcoinBulldipexperiencesInvestingcomOnchainpotentialrunSuggests
ShareTweetShareShare
Previous Post

The Best Time to Buy Real Estate in Over 15 Months is Right Now—Here’s Why

Next Post

Dividend Kings In Focus: Tootsie Roll Industries

Related Posts

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

by Index Investing News
May 24, 2025
0

Opeyemi is a proficient author and fanatic within the thrilling and distinctive cryptocurrency realm. Whereas the digital asset business was...

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

Chinese language Automotive Agency Reveals Twin-Observe Plan to Purchase 1,000 Bitcoins Over Subsequent Yr

by Index Investing News
May 24, 2025
0

Jiuzi Holdings, Inc. plans to amass 1,000 bitcoins over the approaching 12 months by means of a mix of recent...

Extra crypto companies to return?

Extra crypto companies to return?

by Index Investing News
May 24, 2025
0

This previous week, Coinbase joined the S&P 500, one of many world’s most elite inventory indexes — a triumph for...

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

Bitcoin Value Enters fifth Wave After Decline, Eyes Stronger Breakout Rally

by Index Investing News
May 24, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure Crypto analyst CrediBULL Crypto has commented...

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds .25B BTC

Elon Musk’s Tesla Nonetheless Bullish On Bitcoin, Holds $1.25B BTC

by Index Investing News
May 23, 2025
0

Blockchain analytics platform Arkham Intelligence has revealed that Tesla Inc.’s Bitcoin (BTC) holdings are actually value round $1.25 billion. With...

Next Post
Dividend Kings In Focus: Tootsie Roll Industries

Dividend Kings In Focus: Tootsie Roll Industries

The Next Amazon? This Small Company Has What It Takes

The Next Amazon? This Small Company Has What It Takes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Aurora Hashish: This Phoenix Has Risen From The Ashes

Aurora Hashish: This Phoenix Has Risen From The Ashes

February 22, 2025
The 15 Worst Monetary Selections And How To Recuperate From Them

The 15 Worst Monetary Selections And How To Recuperate From Them

July 15, 2024
I’m Bullish on Preferred Equity Right Now—Here’s Why

I’m Bullish on Preferred Equity Right Now—Here’s Why

April 10, 2024
Kelly Puts Blake Under Lie Detector, Olympic Hopeful

Kelly Puts Blake Under Lie Detector, Olympic Hopeful

March 15, 2023
1958 Fiat 1200 TV Spyder

1958 Fiat 1200 TV Spyder

July 24, 2023
Elizabeth Holmes to Report to Prison: A History of the WSJ Theranos Investigation

Elizabeth Holmes to Report to Prison: A History of the WSJ Theranos Investigation

May 27, 2023
The Parliament Moves to Impose Potential Life Imprisonment for Speech Crimes – FREEDOMBUNKER

The Parliament Moves to Impose Potential Life Imprisonment for Speech Crimes – FREEDOMBUNKER

March 16, 2024
Manufacturing wraps on Clark Duke comedic thriller Stranglehold

Manufacturing wraps on Clark Duke comedic thriller Stranglehold

July 23, 2024
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In