Data shows the Bitcoin average transaction count has risen to the highest level since April 2021, indicating that the asset’s price could be bullish.
Bitcoin Transactions Are Happening At An Average Rate Of 309,500 Per Day
As per the latest weekly report from Glassnode, the transaction count is currently significantly above the average for the year. The relevant indicator here is the “transaction count,” which, as its name already suggests, measures daily transfers on the Bitcoin blockchain.
When the value of this metric is high, it means many transactions are taking place on the BTC network right now. Such a trend suggests traders are active in the market currently.
On the other hand, low values suggest the network isn’t seeing much activity at the moment. This trend can indicate that the general interest in the cryptocurrency is low among investors currently.
Now, here is a chart that shows the trend in the Bitcoin…
