Bitcoin's Resilience: On-Chain Activity, Fed Meeting, and ETF Inflows Drive Price Above $67k

On-chain activity on the Bitcoin blockchain remains low, indicating that investors are holding onto their coins in anticipation of higher prices, with the mean transfer volume well below 2021 levels. The recent rise in Bitcoin's price to new record highs has not been accompanied by strong on-chain economic activity, partly due to a strong holding sentiment in the market. The low on-chain volume is seen as a sign of supply-side illiquidity, with analysts expecting Bitcoin's price to rally into six figures in the coming months.