Bitcoin’s on-chain metrics are painting a bullish picture after weeks of consolidation.
The top cryptocurrency hit a peak price of $41,962 on Jan. 8 and has mostly traded the range of $29,000–$40,000 since then, according to CoinDesk 20 data.
However, demand continues to outstrip supply amid the price lull. “In 2021 so far, around 26,000 BTC have been mined. Meanwhile, the Grayscale Investment Trust has acquired over 40,000 BTC in the same period,” Glassnode said in its weekly…
Source link
