Bitcoin on-chain transaction volume declines, prices may continue to rise
ChainCatcher news, CoinDesk reported that according to Glassnode data, the dollar value of the average transfer on the Bitcoin chain is still well below the peak in 2021. Analysts at Blockware Solutions said this was a sign that investors were continuing to hold onto the token in anticipation of price increases. “No one wants to sell Bitcoin.”
It is reported that spot trading volume has been concentrated in ETFs recently, which also explains the low on-chain trading volume. Still, other indicators suggest that investors who survived the 2022 bear market are continuing to hold on to their coin reserves, anticipating continued Bitcoin price gains.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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