Bitcoin Forms Bullish On-Chain Trends Despite Price Correction


Bitcoin may be primed to recover further as Bitcoin’s on-chain trends remain in a good spot despite the price drop. The on-chain trends BTC is seeing now are similar to those seen prior to the rally from the $9,000s to $11,000 just weeks ago. Bitcoin’s On-Chain Trends Remain Bullish Despite Correction Bitcoin’s on-chain trends remain in a decent spot despite the correction in the cryptocurrency market that brought the coin from the $12,000 region to $10,000 and even lower at times. Blockchain analytics firm Santiment recently shared the chart below. Dated on September 13th, the chart suggests that while Bitcoin has formed bearish divergences over the past two days in terms of its price action and on-chain activity, the past week was filled with bullish divergences. The last time this many bullish divergences were seen, the cryptocurrency surged from the $9,000s to $11,000 and a bit further in the span…

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