At its current $30,000
Volatility, fluctuations and a bull market
The report also considered BTC’s recovery from the bear market lows of November 2022, when the leading coin traded for as low as $15,000, and found that its value has since risen by 91%. According to Glassnode, this recovery “carries a remarkable resemblance to the recovery rallies of prior cycles.” Typically, an increase in this metric is seen as a positive signal of growing adoption and a healthy network. However, the presence of inscriptions, which involved significant address re-use and small transfer volumes, requires a more nuanced interpretation.
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