Bitcoin Price Drop Below $70,000 Apparently Driven By Lack Of Interest, Glassnode Data Shows

Bitcoin Price Drop Below $70,000 Apparently Driven By Lack Of Interest, Glassnode Data Shows


On-chain analytics platform Glassnode has provided insights into why the Bitcoin price recently dropped below $70,000. The platform suggested that the flagship isn’t yet seeing enough demand, which could send its price to new highs. 

Demand For Bitcoin Is Still Modest

In one of its latest market reports, Glassnode mentioned that “the rate at which new capital is flowing into the Bitcoin network has slowed down considerably from its peak.” They made this assertion based on the Realized Cap metric, which measures the value of each Bitcoin based on the last time it was traded. Glassnode claimed that Bitcoin’s Realized Cap is currently at $574 billion. 

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The platform further revealed that the injection of liquidity into Bitcoin has cooled off since the flagship crypto

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