Bitcoin reaches this key milestone for the first time since March

ambcrypto.com:

Bitcoin [BTC] has made major moves on the price chart after breaking through the $22,000 resistance on the daily chart. As of 12 September, the crypto king breached this zone and has been holding it steadily.

This is also the first time that Bitcoin broke past $22k in three weeks. Meanwhile, Bitcoin’s ratio of transactions in profit vs. loss has reached its highest point since March 2022 according to Santiment.

Source: Santiment

According to CoinMarketCap, BTC was trading at $22,310 at press time after a 1.25% surge in the past 24 hours. This puts Bitcoin in a strong position to end the week in the green zone. The coin was also aided by a rise in transaction volume which jumped over 15% on the daily chart.

It appears this “mild bounce” has led to a trigger in demand for Bitcoin again. As trader profitability increases, the coins become attractive to traders again. This was also shown in a recent Glassnode tweet which claimed that the number of transactions (BTC) has reached a three-month high of 10,858.

Source: Glassnode

Bitcoin has also been denoted as the “Coin of the Day” on LunarCrush. The following tweet claimed that Bitcoin has recorded a “positive price action and increasing social activity” to merit its victory.

Not to forget, social activity remains a major component of bullish momentum.