As the Bitcoin experienced a surge in its figure, the on-chain monitoring resource, Glassnode, uploaded a surprising <a href="https://twitter.com/glassnode/status/1287411639503990785/" target="_blank" rel="noopener">data</a> related to it on July 26, stating that compared to earlier ones, the recent journey of Bitcoin price above $10,000 would be different.
<blockquote class="twitter-tweet">
In contrast to the last two times <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hit $10,000 USD, we haven't seen an increase in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Days Destroyed today.
Live Chart: <a href="https://t.co/ev31eVhrKR">https://t.co/ev31eVhrKR</a> <a href="https://t.co/PdaH6coyOr">pic.twitter.com/PdaH6coyOr</a>

— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1287411639503990785?ref_src=twsrc%5Etfw">July 26, 2020</a></blockquote>
As per the report, on July 26, the BTC/USD suddenly experienced a sudden surge in its price. Since a long time, it has been struggling to rise above $10,000 and on Sunday BTC/USD hit highs of $10,200.

But very soon, the market again noticed that the pair again fall from $10,200 to $9,900 level.

<img class="aligncenter wp-image-174566 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2020/07/screenshot-cointelegraph.com-2020.07.27-13_29_35.png" alt="" width="653" height="301" />
<h2>Bitcoin Days Destroyed Affects Price Of BTC </h2>
This was not the first time in the year 2020, the Bitcoin rise above $10,000, but according to Glassnode, this movement of BTC is different from the rest because of the Bitcoin days destroyed indicator.

Bitcoin days destroyed is a measured value of each BTC transaction which analysis since how long the coin has not moved.

Earlier, as the BTC surged above $10,000, the Bitcoin days destroyed metric also started increasing which indicated that the long-term holders of the world’s largest cryptocurrency were using this opportunity to trade or sell it.
<h2>Rumour About PayPal Accepting Cryptos</h2>
According to Glassnode’s summarized data, “In contrast to the last two times $BTC hit $10,000 USD, we haven't seen an increase in #Bitcoin Days Destroyed today.”

<img class="aligncenter wp-image-174567 size-full" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2020/07/screenshot-cointelegraph.com-2020.07.27-13_30_02.png" alt="" width="652" height="368" />

In June 2020, a rumour broke out, which stated that PayPal would be accepting crypto from now, soon after that, the price of Bitcoin surged above $10,000 and reached $12,000.   

Network essentials would remain promising, but similarly, Sunday’s explosion will mark a firm contrast to the comparison pattern of Bitcoin which existed in prior weeks. 

Presently BTC/USD pair is settled in a narrow corridor of higher lows and lower highs cycle, which would break soon, as per the researchers.

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Bitcoin Holders Not Buzzed By Bitcoin's 10000 USD Rally

Glassnode uploaded a surprising data, stating that compared to earlier ones, the recent journey of Bitcoin price above $10,000 would be different.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Bitcoin Holders Not Buzzed By Bitcoin's 10000 USD Rally

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