CandleFocus Is Bitcoin’s Drop in MDIA a Sign of Continued Bullish Momentum?
2024-11-28
Author: Content Editor
Bitcoin's Mean Dollar Invested Age (MDIA) metric is indicating a shift in market sentiment, with previously dormant coins being traded again. MDIA has dropped significantly since mid-October, resulting in the average age of Bitcoin falling by 27%. This coincides with a sharp increase in market activity and is expected to lead to continued market cap growth. Bitcoin's price has increased by 2.62% in the last 24 hours, with a market cap of $1.89 trillion. Technical indicators suggest potential resistance at $100,000 and support at $90,000, but overall, the market remains bullish with room for further growth.
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