Bitcoin (BTC) price volatility heightened this week as the bulls made several attempts to break the critical $27,500 resistance. While the broader macroeconomic climate remains uncertain, on-chain data flashes multiple green signals for a positive BTC price prediction.
This week, Bitcoin’s large transaction count recovered after the BRC-20 Ordinals triggered a fee hike. With Bitcoin Supply on Exchanges now at the 60-day low, here’s how the bulls could flip the BTC price trend in the coming days.
Large Transactions are Back on the Bitcoin Network
Last week, a sudden hike in gas fees caused by BRC-20 Ordinals saw investors turn to alternatives like Litecoin for peer-to-peer transactions. The downtrend in large transactions contributed to the recent BTC price retracement below $26,000.
However, the controversy cooled off this week as on-chain data shows a resurgence in the volume of Large transactions on the Bitcoin…
