- Glassnode data shows that BTC’s percent supply last active for more than five years is at an all-time high.
- At the moment, BTC trades at $20,267.15 after dropping slightly over 9%.
- The daily bullish EMA cross on BTC’s chart was short-lived following the latest price drop.
According to the post, “BTC’s Percent Supply Last Active 5+ Years” has reached an all-time high (ATH) of 24.739%.
CoinMarketCap, the crypto market tracking website, shows that BTC is currently trading at $20,267.15 after a 9.37% drop in price over the last 24 hours. At this time, BTC also established a low of $20,062.67.
BTC’s market cap currently stands at $388,270,259,161 and its 24 hour trading volume at $49,063,409,981 after an increase of more than 3%.
The price of BTC plummeted below its exponential moving averages (EMAs) after the 9 (EMA) line crossed above the 20 EMA line, with BTC’s price crossing above the two EMA lines to print a positive six candle sequence. The bullish EMA cross was short-lived following these movements.
However, bulls have initiated a comeback as the large red candle on the daily chart was followed by a slight resurrection in buy volume.
The Relative Strength Index (RSI) indicator has also declined to 45.5 from its previous peak value of 61. Nevertheless, the RSI line maintains a position above the RSI SMA line, which is a bullish sign. However, investors and traders may need to tighten their stop losses given the current margin between the RSI and RSI SMA is tight.
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