Bitcoin buying pressure reaches two-month high

Bitcoin buying-pressure reaches two-month high

Image source: Shutterstock / Trijo News

Trijo News

This could indicate that we are approaching a bull run.

During the weekend, Trijo News reported that bitcoin reached $10,000 for the first time in over a year. After that, several analysts have expressed a positive opinion on bitcoin’s price development. Now another indicator brings good news for the world’s biggest cryptocurrency.

Indicator reaches its highest mark in two months

It is the price indicator Chalkin Money Flow Index, which measures how large volumes of bitcoin are bought and sold, which reached its highest point since the beginning of April.

The Chalkin Money Flow Index curve has been on an upwards trajectory since the beginning of March, indicating that bitcoin is at the beginning of a bull market, Coindesk reports.

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