$BTC still has a chance to move toward $35,000, suggests Glassnode's analysis
Bullish Quadrant: The report highlights that Bitcoin is still positioned within the bullish quadrant, indicating promising signs for the future.
Short-term Corrections: Although the market may experience short-term corrections, stability persists around the $27,000 level, providing a solid foundation for potential price growth.At the time of writing, Bitcoin is trading at $27,398, while network activity hovers around previous all-time highs. This significant increase in network activity and load can be attributed to the introduction of ordinals.
Network Activity Growth: Increased network activity suggests that there is a growing interest in Bitcoin, which could translate into higher demand and a subsequent price increase.Here's what our State of the System report reveals for week 19:📉 Short-term corrections, but stability persists around the 27k level.
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