This Bitcoin Metric Peaks Again: Will BTC Hit $60,000 As Before?

The price of Bitcoin stands firm around the critical area of $34,000, hinting at further bullish potential. However, market analysts wonder if enough clues point to the upside or if BTC will return to $20,000.
As of this writing, BTC trades at $34,150 with sideways movement in the last 24 hours. The cryptocurrency recorded a 15% profit the previous week and remains a top coin performer by market cap.Bitcoin On-Chain Activity Rises Hinting At A Bull Run?
Data from the analytics platform mempool.s