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As Bitcoin oscillates close to $60K, here’s a lowdown on market conditions right now
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The last week has been nothing short of a roller-coaster ride for Bitcoin marking yet another ATH, peaking close to $69,000. However, with the market currently consolidating, the majority of participants seem to be holding on to the gains as BTC finds new lower support.
Nonetheless, with the activation of the Bitcoin Taproot upgrade, the long-term prospects of the coin appear to be glimmering. However, as Bitcoin’s price slumped by 7.42% in 24-hours and by 10.63% over the last week, clarity about BTC’s move ahead seemed to be missing. Thus, it would only seem wise to analyze the current state of the market.
A look at BTC’s on-chain accumulation highlights how addresses aren’t accumulating coins over the last month. Therefore, it looks like
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