@jjias0-jaca
On-chain data for Bitcoin can provide insights into whether the current price rise is supported. Key metrics include:
Active Addresses: A surge in active addresses suggests increased user participation, supporting price growth.
Transaction Volume: Higher transaction volumes indicate more market activity, which can validate price increases.
Hash Rate: A rising hash rate implies stronger network security, which often correlates with higher confidence and prices.
Exchange Reserves: Decreasing exchange reserves suggest that Bitcoin is being moved to long-term wallets, signaling bullish sentiment.
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