Bitcoin Eyes $60K as Active Entities Surge, Price Chart Shows Impending Bull Cross

Bitcoin Eyes K as Active Entities Surge, Price Chart Shows Impending Bull Cross
Bitcoin’s rally looks to have legs as the ascent is backed by a pickup in blockchain activity and a long-term technical indicator which is about to turn bullish.While bitcoin has gained 30% this month, the user activity on the network, as measured by the seven-day average of the number of active entities, has increased 19% to 284,179, according to data provided by Glassnode.An increase in network adoption along with a price increase is said to confirm the uptrend.According to Glassnode, “more active market participants has historically correlated with growing interest in the asset during early-stage bull markets.”Glassnode defines active entities…