Analyst Mati Greenspan in his daily newsletter Quantum Economics wrote,“But that’s being discounted because it wasn’t as bad as analysts were predicting.
After trading in a tight range over the past few weeks, the digital asset has finally broken to the upside.
Bitcoin Fundamentals GrowingJust like the price, on-chain fundamentals are showing a significant increase in the activity on the Bitcoin network.
As we saw this week, global markets continue to see massive uncertainty and instability with traditional safe-haven assets like oil plummeting below zero for the first time.
This could be one of the reasons, “BTC is becoming a more attractive asset, acting as a hedge against traditional financial markets,” noted Glassnode.

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