Key Bitcoin (BTC) Indicator Suggests Cryptocurrency Market Poised for Massive Bull Run: …

The blockchain intelligence firm Glassnode says a key Bitcoin indicator suggests the crypto market remains in the early days of a long-term bull run.

According to Glassnode, the number of BTC addresses with unrealized profit is at similar levels to the start of three major rallies.

Unrealized profit is calculated by taking the difference between the current price of Bitcoin and the price at the time that BTC in a given address last moved. It’s a sign of how many traders are determined to hold on to their investment.

Meanwhile, Bitcoin’s hash rate is hitting new all-time highs.

The hash rate is a mathematical representation of the amount of computing power dedicated to processing Bitcoin transactions. The higher the number, the stronger and more secure the network.

The high water mark suggests miners that power the leading cryptocurrency are feeling bullish on their ability to turn a profit by powering the network.

Despite