{"id":257345,"date":"2022-09-14T01:00:09","date_gmt":"2022-09-13T19:30:09","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=257345"},"modified":"2022-09-14T01:20:21","modified_gmt":"2022-09-13T19:50:21","slug":"bitcoin-reaches-this-key-milestone-for-the-first-time-since-march","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoin-reaches-this-key-milestone-for-the-first-time-since-march\/","title":{"rendered":"Bitcoin reaches this key milestone for the first time since March"},"content":{"rendered":"

Bitcoin [BTC]<\/a> has made major moves on the price chart after breaking through the $22,000 resistance on the daily chart. As of 12 September, the crypto king breached this zone and has been holding it steadily.<\/p>\n

This is also the first time that Bitcoin broke past $22k in three weeks. Meanwhile, Bitcoin’s ratio of transactions in profit vs. loss has reached its highest point since March 2022 according to Santiment<\/a>.<\/p>\n

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Source: Santiment<\/figcaption><\/figure>\n

According to CoinMarketCap, BTC was trading at $22,310 at press time after a 1.25% surge in the past 24 hours. This puts Bitcoin in a strong position to end the week in the green zone. The coin was also aided by a rise in transaction volume which jumped over 15% on the daily chart.<\/p>\n

It appears this “mild bounce” has led to a trigger in demand for Bitcoin again. As trader profitability increases, the coins become attractive to traders again. This was also shown in a recent Glassnode tweet<\/a> which claimed that the number of transactions (BTC) has reached a three-month high of 10,858.<\/p>\n

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Source: Glassnode<\/figcaption><\/figure>\n

A social hero as well<\/h3>\n

Bitcoin has also been denoted as the “Coin of the Day” on LunarCrush. The following tweet claimed that Bitcoin has recorded a “positive price action and increasing social activity” to merit its victory.<\/p>\n

Not to forget, social activity remains a major component of bullish momentum.<\/p>\n

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With positive price action and increasing social activity, #Bitcoin<\/a> is Coin of the Day on #LunarCrush<\/a>!<\/p>\n

\ud83e\ude90 Galaxy Score\u2122 48\/100
\ud83d\ude80 AltRank\u2122 15\/3871
\ud83d\udcc8 Price $22,227.61 +2.57% <\/p>\n

View real-time Bitcoin $BTC<\/a> metrics at https:\/\/t.co\/ei2IG13Qvg<\/a> pic.twitter.com\/yzMOdblHtk<\/a><\/p>\n

— LunarCrush (@LunarCrush) September 12, 2022<\/a><\/p><\/blockquote>\n