Today’s spike in the daily trade volume is only one of several optimistic fundamentals that are favouring the Bitcoin (BTC) network. The price of the most valuable cryptocurrency is currently $27,315.23, up 2.02% in the last 24 hours. The asset’s price increase has demonstrated that market bulls are still active and have the capacity to support BTC’s rebound.
The TD Sequential indicator provided a buy signal for the cryptocurrency on the daily chart, according to Twitter on-chain expert @Ali_Charts, who shared his analysis of the current Bitcoin price trend. He claims that this signal signals an impending significant rebound.
He confirmed the TD Sequential indicator’s great potential for accuracy as an analyst known for making accurate predictions. With these guarantees, he added that the Bitcoin whales’ capacity to assist the cryptocurrency in securing the support around $26,360 will determine whether or not an upswing is likely to occur.
Over the past few weeks, Bitcoin has contributed in numerous ways to the market’s stabilisation. The digital currency still ranks among the top assets on the watchlists of the majority of macro crypto traders because it has more upside potential.
Overcoming evolving woes
The urge to develop Bitcoin’s ecosystem into a more active and useful one has recently put the network’s stability at danger. Bitcoin may be the largest digital currency in the world.
As previously reported by U.Today, Bitcoin experienced transaction congestion throughout the course of the past week, leading to a noticeable increase in petrol costs. The increase in Ordinals inscriptions on the protocol has been cited as the cause.
Even if things have settled down somewhat at this point, scaling solutions may still be necessary to address these problems and those that may arise in the near future.
