Bitcoin Network Activity Surges as BIP-110 Activation Triggers New Block Alerts
The Bitcoin network has experienced a significant increase in activity following the activation of BIP-110. As a result, automatic alerts from FarsideUK recorded 32 blocks in the latest period.
Despite this surge, BTC remains trapped within its Bollinger Bands, with an upper resistance at $64454.24 and lower support at $62194.83. The broader EMA stack holds firm overhead, suggesting a potential healthy retracement toward the 50-EMA support at $63812.84.
Traders note that price is testing upper Bollinger resistance, while the bearish trend structure caps upside attempts. Momentum indicators show RSI(14) at 48.69 in neutral territory and MACD(12,26) at -187.69 confirming a bullish golden cross.