Bitcoin has been trending up since hitting a local low below $25,000 on September 11th. Yesterday’s rally to $27,435 marked a 10% increase from the recent low. As NewsBTC reported, the rally was largely led by the futures market and a massive increase in open interest of over $1 billion, more than half of which was flushed out when BTC fell back below $27,000. Despite this, BTC is up around 7.5% from last week’s low. A reason to be bullish?
Glassnode Report Sheds Light On Market Sentiment
According to Glassnode, the Realized HODL Ratio (RHODL) serves as a crucial market sentiment indicator. It measures the balance between investments in recently moved coins (those held for less than a week) and those in the hands of