Bitcoin May 28 - Bitcoin hovers around $110,000
Bitcoin's price has just reached an all-time high, but that hasn't stopped Strategy from continuing to accumulate Bitcoin. In fact, the company has just acquired nearly 4,000 additional BTC, bringing its holdings to over 580,000 BTC. Investor appetite seems insatiable, with almost every category accumulating at the moment. Is Bitcoin in a good position to continue its rise?
Bitcoin price stabilizes around $110,000
Yesterday, BTC tried once again to break the $110,000 level, but sellers are still present. Since then, the price of Bitcoin has remained stagnant around $110,000, but it has shown a 1.7% increase over the past week and more than 15% over the past month.
Despite Bitcoin's price rising above $110,000, the gauge is far from the bullish excesses of 2021 and 2022. Data from The Block indicates that on-chain activity remains low compared to the recent surge.
If BTC's value accelerates toward $150,000 or even $200,000, on-chain trading volumes could rise significantly. The current situation resembles the phase that preceded the bullish acceleration in 2021. Share your opinion and predictions.
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