While almost 99% of traders are in profit at the moment, CryptoQuant hinted that the price is close to investors’ purchase costs. This, it noted, is proof that the price is not overheated. With the technical indicators showing the potential for another rally, the question remains whether the growth will follow a linear trend.
At the time of writing, the Bitcoin price was changing hands for $75,098.68, up by 2.67% in the past 24 hours. Its trading volume has, however, dropped by 17% within the same period to $77.99 billion, proof of tempered sentiment.
Shiba Inu (SHIB) also took advantage of this rally to extend its gains after prolonged consolidation moves. The token saw a record boost in price and other metrics like burn rate and Shibarium transaction count. This helped it topple Avalanche (AVAX) again as the 12th largest digital currency.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
