Bitcoin in price discovery: What does the data say? (Santiment Weekly Pro Report)
For many in the crypto market, the last week has been years in the making. After falling just shy of it on December 17th, 2017, Bitcoin finally managed to breach the coveted $20k mark almost exactly three years later.
We are now officially in price discovery, and the market is (deservedly) going nuts. And surprise, surprise, so are Bitcoin’s fundamentals.
In this week’s report, we take a look at the last week of Bitcoin’s activity, and the growing number of local top markers that began forming roughly 24 hours after the ATH break.
It’s all here, in our weekly Pro report:
Pumping the breaks
The price of Bitcoin peaked on Thursday afternoon (UTC), at roughly $23,624 according to most price aggregators. Since then, the benchmark coin has largely pivoted to consolidation, recording a loss of -2.9% on the day (at
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