bullish

Bitcoin

Momentum

when

<ul class="wp-block-list">
 <li>A golden cross in Bitcoin’s active addresses may signal the start of a bullish market, improving investor confidence.</li>  
 <li>Thet rise in active addresses shows increased network activity, which is similar to trends seen before Bitcoin's 2021 surge.</li>  
 <li>Current transaction volumes are nearly double those from 2021, highlighting renewed interest in Bitcoin as it approaches a golden cross.</li> 
</ul>  
<p>There may be a shift in the cryptocurrency market as shown by a Golden cross as the Bitcoin Active Addresses Indicator approaches a critical point. Bullish momentum is shown when the 30-day moving average of active addresses exceeds the 365-day moving average.</p>  
<p>This crossover has historically indicated an <a href="https://cryptonewsland.com/crypto-expert-doctor-profit-analyzes-bitcoin-stability-and-breakout-potential/" target="_blank" rel="noopener noreferrer nofollow">upward trend for the price of Bitcoin</a>. Bitcoin's active addresses are now approaching this golden cross, indicating a rise in network activity and investor involvement that might have a big effect on the market.</p>  
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<h2 class="wp-block-heading" id="h-rising-active-addresses-and-market-activity">Rising Active Addresses and Market Activity</h2>  
<p>Market engagement is indicated by the active addresses measure, which shows distinct addresses that are actively transacting on the Bitcoin network. The 30DMA and 365DMA show longer-term patterns in network activity in addition to recording daily transactions.&nbsp;</p>  
<p>The <a href="https://cryptonewsland.com/tron-defies-market-downturn-surges-over-10-whats-behind-it/" target="_blank" rel="noopener noreferrer nofollow">market started a bullish cycle in 2021</a> when the 30DMA crossed above the 365DMA, leading to the rise price of Bitcoin. As a result, active addresses rose in tandem with network traffic and investor interest.</p>  
<p>This trend hanged in 2022 when the price of Bitcoin fell. It creates a "dead cross," a sign of bearish market sentiment, when the 30DMA falls below the 365DMA. Price fell for most of 2022 and the first half of 2023, together with a decrease in the number of active addresses and transactions that occurred.</p>  
<h2 class="wp-block-heading" id="h-current-trends-and-potential-market-impact">Current Trends and Potential Market Impact</h2>  
<p>In 2023, Bitcoin started to increase in value again. Active addresses increased in together with this recovery, indicating a resurgence of network interest. There may soon be a <a href="https://pepperstone.com/en-af/learn-to-trade/trading-guides/what-is-golden-cross-trading/" target="_blank" rel="noopener noreferrer nofollow">golden cross</a> as the 30DMA of active addresses gets closer to the 365DMA. Should this crossover take place, it might signal a change in the mood of the market and raise the <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">price of Bitcoin</a>.</p>  
<p>Notably, compared to the 2021 bull run, current transaction volumes have almost doubled, indicating increased network activity. The trend might resemble the mid-2021 consolidation phase, with mixed market sentiment, if the 30DMA is unable to decisively overtake the 365DMA.</p>   
<p>The post <a href="https://cryptonewsland.com/bitcoin-market-momentum-shifts-as-active/" rel="noopener noreferrer nofollow">Bitcoin Market Momentum Shifts as Active Addresses Signal Golden Cross</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Market Momentum Shifts as Active Addresses Signal Golden Cross

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