On-chain data shows Bitcoin’s recent surge to $10K is not pressuring traders to sell, meaning BTC could rally higher.
Bitcoin (BTC) may have only held $10,000 for a matter of hours, but according to glassnode, an on-chain monitoring resource, this moon is not like others in 2020.
On July 26 Glassnode uploaded surprising data about Bitcoin’s latest trip to five figures and suggested that the current journey above $10,000 will be much different than the last few.
Bitcoin hodlers delay on selling at $10,000
As Cointelegraph reported, BTC/USD suddenly crushed the last remaining resistance below $10,000 on Sunday, rising to hit highs of $10,200.
The excitement was short-lived, with the pair then dropping to circle the $9,900 level at press time.
BTC/USD 7-day chart.