Bitcoin Bulls Getting Excited as Key On-chain Metrics Trend Higher – Further BTC Price Rally Incoming?

According to data presented by crypto analytics firm Glassnode, the 14-day Exponential Moving Average (EMA) of the number of active addresses interacting with the Bitcoin network was at around 975,000 on Wednesday, having trended higher consistently since ending last year well under 900,000.

Positive trends in the above-noted technical metrics come as a host of alternative on-chain and technical metrics all scream that 2022’s bear market is probably now over.

In early January, crypto-focused Twitter account @CryptoHornHairs identified that Bitcoin is following nearly exactly in the path of a roughly four-year market cycle that has been respected perfectly now for over eight years.

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