Crypto Blog
Bitcoin’s price has been holding strong around the $60K level following the significant crash a few weeks ago. Investors are now optimistic that the market will soon rally to new all-time highs.
Yet, the 200-day moving average, located around $63K, is yet to be broken to the upside. A bullish breakout above this level is a must for BTC to continue its long-term rally. However, it is slowly beginning to make higher highs and lows as the market is seemingly gaining bullish momentum again. During the recent Bitcoin consolidation and correction, market participants have been wondering whether an accumulation or distribution phase is happening. Analyzing the fundamentals of the network can help answer this question.
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