Bitcoin [BTC] bounces back: All you need to know as king coin crosses $26k

Abiodun Oladokun
Abiodun Oladokun

15 Mar 2023 10:30 PM

BTC traded momentarily above $26,000 on 14 March. On-chain data indicated positive sentiment.  During the intraday trading session on 14 March, Bitcoin [BTC] momentarily traded at a staggering high of $26,500 for the first time since August 2022. The rally in price was due to the positive sentiment that lingered in the market as many […]...

  • BTC traded above $26,000 on March 14 due to positive market sentiment and potential US interest rate cuts.
  • On-chain data from Santiment and Glassnode showed an increase in whale transactions and 20% of BTC's adjusted circulating supply acquired within the $20,000 to $26,000 range, respectively.
  • Market sentiment has improved significantly, with short traders remaining the biggest losers in the BTC market.
  • BTC funding rates have turned positive, indicating high demand to go long and a bullish signal.

The article has a positive sentiment, with a focus on the recent surge in BTC's price and positive market sentiment. The use of words such as "amazing recovery," "bullish," and "positive" contribute to the positive sentiment.

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Related Questions

What caused BTC to trade above $26,000 on March 14?
What do on-chain data from Santiment and Glassnode show about BTC's recent price surge?
Who were the biggest losers in the BTC market during the recent price surge?
What do positive BTC funding rates indicate?
What is BTC's current weighted sentiment and what does it suggest about future price growth?

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market sentiment
on-chain data
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