Strong Bitcoin Buying Above $64,000 Helped Drive Rally to $76,000
Minseung Kang
Summary
- On-chain analytics firm Glassnode said strong market buy orders came in when Bitcoin began trading slightly above $64,000.
- It said that buying helped drive Bitcoin's breakout to $76,000, with buy-side dominance in trading volume sustained during the move.
- Glassnode added that buying pressure remains strong at current price levels.
Forecast Trend Report by Period
Bitcoin saw a strong influx of market buy orders after breaking above $64,000, with buyers continuing to dominate as the cryptocurrency climbed to $76,000, according to Glassnode.
On Aug. 24, the on-chain analytics firm wrote on X that market buyers stepped in aggressively when Bitcoin began trading slightly above $64,000.
That buying helped fuel the breakout. Buy-side dominance in trading volume also persisted as Bitcoin rose to $76,000, Glassnode said.
Glassnode added that buying pressure remains strong at current price levels.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.