Bitcoin’s Bull Run Has Plenty of Steam Left, These Indicators Suggest
Key indicators tracking Bitcoin’s blockchain activity, miner flows and the 200-day moving average suggest bitcoin is far from being overvalued and could continue to rally in 2024.
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Key indicators tracking Bitcoin’s blockchain activity, miner flows and the 200-day moving average suggest bitcoin is far from being overvalued and could continue to rally in 2024.
The latest in blockchain tech upgrades, funding announcements and deals. For the period of Dec 14-Dec. 20, with live updates throughout.
The U.S central bank Wednesday left its benchmark fed funds at a range of 5.25%-5.50%.
Bitcoin remained steady around $41,000 after Monday’s dramatic flush.
The bonds are expected to launch in Q1 of 2024, several posts amplified on social platform X by President Nayib Bukele suggest.
“Due to the rise of Ordinals and Bitcoin L2s, there are reasons to be bullish on the Bitcoin ecosystem. We are entering an era of Bitcoin that we have never seen before,” one market watcher told CoinDesk.
Bitcoin endured its worst daily drawdowns in 4 months, dipping over 7% to nearly $40,000. $XRP, $LINK, $ADA declined 8%-10%.
The cryptocurrency’s volatility cuts both ways.
Uniswap version 3 (v3) has been deployed on Bitcoin sidechain Rootstock by GFX Labs, the team behind trading terminal Oku.