Reported 2 months ago
Recent analysis from CryptoQuant indicates that Bitcoin (BTC) may be approaching a 'local bottom' following a sell-off in early August. The platform's NVT-GC tool reveals bullish signals, suggesting potential for growth despite previous warnings of a BTC/USD breakdown. This indicator suggests a rebound, with current readings indicating a similar local bottom to previous instances that preceded significant price recoveries. Currently priced at $58,681, Bitcoin has seen a 7.58% increase over the past week, even as it grapples with a dip below the $60,000 mark.
Source: YAHOO