The leading cryptocurrency Bitcoin (BTC) has once again dropped below the $26,000 level with its morning losses. Santiment, a crypto analysis platform, evaluated the recent rise in BTC and shared updated data.
Although the leading cryptocurrency Bitcoin (BTC) fell back to the $26,000 level in the morning, it experienced a strong rise during the day. BTC rose to the $26,400 level within hours due to its value increase.
However, the leading cryptocurrency quickly dropped again below the $26,000 level. This decline in BTC caused many other cryptocurrencies to lose value as well.
Ethereum (ETH) also fell below the $1600 level and started trading at around $1585. The total market value of the crypto ecosystem, according to CoinMarketCap (CMC) data, fell back to $1.03 trillion.
Meanwhile, Santiment, a crypto analysis platform, shared updated data and highlighted the rise in critical metrics while the direction of Bitcoin remains uncertain. According to Santiment’s data, there has been a significant increase in Bitcoin’s address activity.
Santiment, evaluating the recent rise of BTC above the $26,000 level, shared the rising critical metrics in the leading cryptocurrency Bitcoin while the direction remains uncertain. There has been a significant increase in the active address count in Bitcoin.
Since Thursday, Santiment stated that there have been 1.1 million addresses interacting with the Bitcoin network, which is the highest level seen in the past 5 months. In its statement, Santiment said:
“Bitcoin, maintaining its price dominance, reached levels of $26,500. There have been 1.1 million daily addresses interacting with the Bitcoin network since Thursday, which is the highest level in the past 5 months. Today, traders are making profits after the slight rise since yesterday.”