{"id":180762,"date":"2023-10-25T17:33:21","date_gmt":"2023-10-25T12:03:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180762"},"modified":"2023-10-25T17:33:21","modified_gmt":"2023-10-25T12:03:21","slug":"huge-one-day-candle-sees-bitcoin-pass-key-glassnode-indicator-teasing-potential-outsized-gains-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/huge-one-day-candle-sees-bitcoin-pass-key-glassnode-indicator-teasing-potential-outsized-gains-crypto-news\/","title":{"rendered":"Huge one day candle sees Bitcoin pass key Glassnode indicator teasing potential outsized gains – Crypto News"},"content":{"rendered":"

<\/p>\n

Quick Take<\/h2>\n

Bitcoin\u2019s recent performance managed to capture significant attention. On Oct. 23, the digital currency appreciated by 10% in a single day, marking the best single-day performance since the FTX collapse in Nov. 2022. It also became the most impressive daily performance in the current year.<\/p>\n

October has witnessed Bitcoin appreciating 27%, standing out as the best month return since Jan. 2023, when the digital currency appreciated by a whopping 40%.<\/p>\n

Bitcoin daily price performance: (Source: Glassnode)<\/figcaption><\/figure>\n

Examining this performance in the context of Glassnode\u2019s Bitcoin Investor Tool, a tool designed for long-term investors, can provide valuable insights. The tool uses a 2-year MA and a 5x multiple of the 2-year MA to indicate potential cyclical tops or bottoms.<\/p>\n

\"Investor
Investor tool: (Source: Glassnode)<\/figcaption><\/figure>\n

Historically, trading below the 2-year MA has generated outsized returns and signaled bear cycle lows. On the other hand, trading above the 2-year MA x5 has historically signaled bull cycle tops, a zone where investors usually de-risk.<\/p>\n

The recent price increase saw Bitcoin breach above the 2-year MA for the first time since May 2022, when it was priced at $30,000.<\/p>\n

The post Huge one day candle sees Bitcoin pass key Glassnode indicator teasing potential outsized gains<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Quick Take Bitcoin\u2019s recent performance managed to capture significant attention. On Oct. 23, the digital currency appreciated by 10% in a single day, marking the best single-day performance since the FTX collapse in Nov. 2022. It also became the most impressive daily performance in the current year. October has witnessed Bitcoin appreciating 27%, standing out […]<\/p>\n","protected":false},"author":2,"featured_media":180763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-180762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180762"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180762\/revisions"}],"predecessor-version":[{"id":180764,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180762\/revisions\/180764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180763"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}