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Bitcoin Sees Surge to $31,000: New Transactions at Three-Month High, but Costs Fall to Four-month Low
The Bitcoin (BTC) indicator suggests an increased number of new transactions in the Bitcoin system, while costs have fallen to a four-month low. This data was published by on-demand information company Glassnode. According to the blockchain data, the number of new handles in the Bitcoin system recently increased to 20,360. This is the highest level since April and indicates increased customer activity and interest in the world's leading cryptocurrency. The increase in new handles shows the increased interest in Bitcoin and could be due to market growth or increased customer satisfaction. This could also be an indicator of a positive rally as market participants support the forecast increase in value...
Bitcoin Sees Surge to $31,000: New Transactions at Three-Month High, but Costs Fall to Four-month Low
The Bitcoin (BTC) indicator suggests an increased number of new transactions in the Bitcoin system, while costs have fallen to a four-month low. This data was published by on-demand information company Glassnode.
According to the blockchain data, the number of new handles in the Bitcoin system recently increased to 20,360. This is the highest level since April and indicates increased customer activity and interest in the world's leading cryptocurrency.
The increase in new handles shows the increased interest in Bitcoin and could be due to market growth or increased customer satisfaction. This could also be an indicator of a positive rally as market participants look to capitalize on the forecast appreciation.
However, another trend has also emerged: the total cost of Bitcoin purchases has fallen to a four-month low of $22,905. This could indicate a decline in investment activity or a temporary pause in Bitcoin usage. There could also be reduced interest or changing demand for Bitcoin.
It is interesting to note that there is an inverse relationship between system costs and the Bitcoin price. While costs rose to a two-year high in May, the price of Bitcoin fell from its peak of $29,820 to $25,811. This could suggest that the increased costs are due to improved marketing tension as market participants circulate souvenirs amid the downward trend in Bitcoin's price.
Despite this, Bitcoin is currently trading for $30,405, up 0.71% in a day. This drop in system costs comes alongside an improvement in positive opinions as the bullish move attempts to surpass the $31,000 mark.
Overall, these numbers show that interest in Bitcoin and customer activity have increased. At the same time, costs have fallen, which could indicate a temporary pause or changing needs. The coming days will show whether Bitcoin can continue its positive rally.