Indicating strong support in the middle and upper $50,000 price range, more than 10% of BTC supply has been moved while Bictoin’s market capitalization has been more than a trillion dollars since March 26.
Bitcoin has enjoyed a $1 trillion market capitalization for more than one week for the first time and for Bitcoin and the cryptocurrency asset class as a whole, it is a strong vote of Confidence as reported by April 5 ‘Week Chain’.
Bitcoin capitalization has held above $1 trillion and which is equal to 10.6% of the circulating supply and also 1.98 million BTC has moved on chain, according to Glassnode. Also, Glassnode further stated that since price were roughly $11 trillion, the mid to high $50,000.
Also, according to Glassnode, one of the strongest on-chain support since prices were roughly #11,000 is the on-chain volume.
Bitcoin’s market cap first broke its $1 trillion milestone on Feb. 19, but quickly dipped back below to 12-figures for the following 17 days. BTC tagged 13-figures again on Mar. 9, but another correction dropped Bitcoin’s capitalization back to $950K