Bitcoin on-chain activity is gaining momentum as a CryptoQuant analyst, known as ‘Yonsei Dent,’ recently pointed to a potential golden cross within the active addresses metric. This indicator tracks the number of unique addresses engaging with the Bitcoin network, providing insights into the network’s overall activity, investor involvement, and possible market directions. Related Reading: Stablecoins Signal Strong Bitcoin Demand: Could BTC Renew Its ATH Soon? Golden Cross On Bitcoin Active Addresses According to Dent’s analysis, applying a monthly and annual moving average to this number of active addresses metric could indicate a shift toward bullish momentum. A high number of active addresses generally suggests strong participation, while fewer addresses may indicate reduced interest. Dent noted that when the 30-day moving average of active addresses crosses above the 365-day moving average—a phenomenon known as a “golden cross”—it often correlates with upward price momentum in the Bitcoin market. This alignment between short-term and long-term trends can suggest renewed interest among both retail and institutional investors, which could potentially sustain or even increase Bitcoin’s value. Furthermo ..
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