* Our Parent Company Crypto Token is LIVE!!! *Flag Token

Bitcoin Is Down 5% Today, but Blockchain Data are Bullish

Date:

Share post:

Image source: Getty Images

Analysts and on-chain data firm Glassnode find positive Bitcoin indicators despite today’s modest price pullback.


Key points

  • Bitcoin is trading down today.
  • On-chain metrics suggest a bullish use case for Bitcoin going forward.

According to CoinMarketCap, at the time of writing, the price of Bitcoin (BTC) is down 5.5% this morning. Today’s strong jobs report could be stoking concerns that the Federal Reserve will be more likely to increase interest rates to slow inflation when it meets in mid-March.

Despite this modest pullback, other data suggest positive upside trends for Bitcoin.

High transfer volume between Bitcoin wallets

Some analysts believe that Bitcoin continues to prove itself as a strong store of value versus other assets. A few days ago, the cryptocurrency traded at a…

Read more…

Related articles

Revolutionizing Inter-Blockchain Communication – Benzinga

Revolutionizing Inter-Blockchain Communication  Benzinga Read more...

Hermès Wins Trademark Lawsuit Against MetaBirkins NFTs, Setting Powerful Precedent for NFT Creators

David Leichtman, Leichtman Law managing partner, told CoinDesk TV on Tuesday that the case wasn’t necessarily about Mason...

UK blockchain carbon offset platform raises $45M in seed funding

According to a press release published on Feb. 8, blockchain carbon credit transaction network Carbonplace has secured $45...

The war among blockchains should stop to speed up adoption – Cointelegraph

The war among blockchains should stop to speed up adoption  Cointelegraph Read more...