- Bitcoin’s (BTC) Relative Unrealized Loss (7d MA) just reached a 1-month high.
- BTC is currently trading at $19,783.70 after a 0.88% drop in price.
- Bears stood firm and were able to keep the price below the descending line.
The on-chain market intelligence firm, Glassnode, took to Twitter on September 4 to announce the fact that Bitcoin’s (BTC) Relative Unrealized Loss (7d MA) had just reached a 1-month high.
In addition to this, Glassnode made another announcement on Twitter on the very same day, which stated that BTC’s “percent supply last active 2+ years” had also just reached an 11-month high.
The high now stands at 45.129%, while the previous 11-month high stood at 45.126%, which was observed only a day before on September 3 of 2022.
According to the market tracking website, CoinMarketCap, BTC is currently trading at $19,783.70 after a 0.88% drop in price over the last day and after reaching a high of $19,912.91 over the same time period. The crypto market leader is also still down about 1.30% over the last seven days.
The 24-hour trading volume for the king of crypto is also down just over 15% to now stand at $23,645,045,049. When it comes to market cap, BTC is still at the top of the list of cryptocurrencies with a market cap of $378,764,276,522.
The daily 9 EMA is positioned below the 20 EMA and continues to diverge from the 20 EMA, which is a potential indication that BTC’s price will continue to face bearish pressure for the coming days.
BTC’s price did attempt to break above the 9 EMA, but bears stood firm and were able to keep the price below the descending line.
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