A BTS look at BTC with rumors of it being accepted as legal tender in…
At press time, the king coin was changing hands at $40,516.22 after rallying by 4.64% in the last 24 hours but slipping by 0.52% in the past week. If you’re a new user, this might be a cause of excitement for you. If you’re an old hand at this, though, you might be wondering why Bitcoin is acting more like a stablecoin these days.
That being said, still, waters run deep and the metrics can show us what the king coin might really be up to.
Bitcoin supply on exchanges largely continued to fall at press time, with Glassnode data revealing that Bitcoin net flow was -$1 billion last week. This clearly indicates that buyers are still buying the dip. In the long run, this is good news for bulls as it signals demand, but for now, Bitcoin continues to hang tight to the $40k mark.
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