This Fundamental Indicator Shows Why Bitcoin Can’t Seem to Break $11,000

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Bitcoin’s price has entered a consolidation phase as it trades between $10,600 and $10,800 The cryptocurrency’s strong uptrend in recent days stalled as soon as it approached $11,000, as the selling pressure at this level has proven to be quite significant Analysts are now conflicted on where it may trend next, as it all depends on whether $11,000 proves to be a surmountable level One analytics firm is now noting that there is one indicator that is providing insight into why BTC can’t seem to break this level They note that the network is currently seeing a “severe lack” of address activity, which points to underlying weakness Bitcoin has been consolidating ever since bulls were able to push it up towards highs of $11,000. The move to this level earlier this week was promising, but it has since been followed by another prolonged period of sideways trading. Where the entire…

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