Bullish for Bitcoin: Data Reveals Spike in Activity from New BTC Investors

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Bitcoin’s price action hasn’t been providing investors with many insights, as it has primarily stagnated as it trades around $10,700 The cryptocurrency market is currently resting on the edge of a blade as investors closely watch to see where BTC may trend in the near-term One trend that seems to point to underlying bullishness is a spike in activity seen amongst new market participants While speaking about this, one on-chain analyst said that this spike in activity coming amidst bearish price action has created a bullish divergence This could mean that upside is imminent for the cryptocurrency Bitcoin has been consolidation between $10,200 and $11,200 for the past couple of weeks, but this trading range has narrowed as of late. The cryptocurrency is now caught between $10,600 and $10,800, with bulls and bears reaching an impasse as its volatility and trading volume both show signs of dwindling. Where the entire…

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