Bitcoin on track to see its highest weekly close of 2022

Bitcoin is about to make a bold statement with possibly its highest weekly close of the year.

, others had already argued that a more significant trend breakout was necessary for Bitcoin in order for them to flip overall bullish and take on long positions.

Meanwhile, on-chain research revealed that it was spot markets, not derivatives, that were at the helm over the past week.This was bullish in itself, Glassnode co-founders Yann Allemann and Jan Happel argued on Twitter this weekend, since historically, sustained upside had been driven by spot demand.

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