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Bitcoin analysts map out the key bull and bear cases for BTC’s price action By Cointelegraph


Bitcoin analysts map out the key bull and bear cases for BTC’s price action

Research has detailed Bitcoin’s recent record-low volatility and, while traders expect an eventual price breakout, the Oct. 26 BTC Price movement to $21,000 does not necessarily mean that $20,000 is now supported.

In a recent “The Week On-chain Newsletter,” Glassnode analysts mapped out a bull case and a bear case for BTC.

transactions of active addresses versus Bitcoin’s price. Source: Glassnode
New non-zero Bitcoin wallets. Source: Glassnode
Bitcoin balance in miner accounts Source: Glassnode
Chart showing the trend of bitcoin accumulation. Source: Glassnode
Bitcoin balance on Coinbase Source: Glassnode
Bitcoin HODL Waves. Source: Glassnode