Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline By Cointelegraph

Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline

CryptocurrencyFeb 12, 2021 09:40PM ET

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Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline

On Feb. 12 Bitcoin (BTC) price hit a new all-time high at $48,985 before pulling back to the $46,000 level.

A quick glance at the 4-hour chart shows the top-ranked cryptocurrency trading in what appears to be a brief phase of consolidation but BTC is still maintaining its bullish momentum through a pattern of higher highs and higher lows.

BTC/USDT 4-hour chart. Source: TradingView

Bitcoin liquid supply. Source: Glassnode

Wallets holding at least 1000 BTC vs BTC price. Source: Decentrader

Daily cryptocurrency market performance. Source: Coin360

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US 30 Futures	33,546.0	-24.0	-0.07%
US 500 Futures	4,131.12	-1.68	-0.04%
Dow Jones	33,677.27	-68.13	-0.20%
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Nasdaq	13,996.10	+146.10	+1.05%
S&P 500 VIX	16.65	-0.26	-1.54%
Dollar Index	91.832	-0.312	-0.34%

Crude Oil WTI	60.55	+0.05	+0.08%
Brent Oil	63.96	-0.02	-0.03%
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Gold	1,746.45	+0.25	+0.01%
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SPDR S&P 500	412.86	+1.22	+0.30%
iShares Russell 2000	221.14	-0.58	-0.26%
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iShares Silver	23.51	+0.47	+2.04%
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ProShares UltraPro QQQ	110.51	+3.66	+3.43%

Apple	134.43	+3.19	+2.43%
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Tesla	762.32	+60.34	+8.60%
Amazon.com	3,400.00	+20.61	+0.61%
Netflix	553.73	+0.95	+0.17%
Facebook	309.76	-1.78	-0.57%
Bank of America	39.32	-0.74	-1.85%

Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline

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