Bitcoin reached multi-month highs at $79,000 as bulls regained control and exchange reserves tightened, signaling buyers returning and reduced sell pressure.
Bitcoin (BTC) rallied past $79,000 during the New York trading session on Wednesday as buying pressure strengthened. Meanwhile, BTC supply on exchanges continues to drop, reducing sell-pressure, a new analysis said.
Key takeaways:
Bitcoin price taps $79,000 as onchain data shows signs of returning demand.
