coingape.com
- Bitcoin price holds above robust support despite $48,000 seller congestion zone thwarting bullish efforts.
- A spike in on-chain levels throughout the week shows that Bitcoin is fundamentally ready to hit higher levels.
Bitcoin bulls targeted closing the gap to $50,000 before this week came to an end. However, price action appears to have been limited to under $48,000. Prior, the flagship cryptocurrency plunged to $43,477 (data by Coinbase) following a massive breakdown from $52,925, September highs.