Moving past these divergences will put Bitcoin’s ‘resilience’ to test
Bitcoin registered its largest weekly close during the middle of October, and last week, it was topped again by closing at $62,500. Over the current week, Bitcoin reached as high at $69,000 but at press time, it is currently consolidating under $64,000 yet again.
While the long-term narrative is strongly bullish right now, signs of concerns are surfacing all over on-chain fundamentals and the tide may turn in the opposite direction.
Source: Santiment
One of the strongest sell signs is currently being illustrated by Price-Daily Active Addresses Divergences or Price-DAA. As observed, rising price action is not matched with higher active addresses. But it is important to note that it has been a trend for the better part of 2021. Regardless, it is
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