Extreme Bullish Wave For Bitcoin On The Horizon As BTC Accumulation Level Hits 7-Year High

Extreme Bullish Wave For Bitcoin On The Horizon As BTC Accumulation Level Hits 7-Year High
фото показано с : zycrypto.com

2022-10-5 22:49

Bitcoin (BTC) accumulation is seeing a massive surge as it rises to levels last seen in 2015. This bullish metric follows Bitcoin’s crash from the $20k support as the bears look to take charge of the markets.

BTC accumulation trend sees levels last witnessed in 2015

Ki Young Ju, CEO of crypto analytics platform CryptoQuant, shared the update on Twitter Monday, as he introduced a chart to confirm his analysis. Ki’s analysis stemmed from Bitcoin’s Realized Cap – UTXO Age Bands indicator. Per data from the chart, BTC held for over six months now contributes a whopping 74% of the asset’s realized cap.

The last time the community witnessed this metric was in 2015, during the market bottom below a BTC value of $220. The surge in realized cap contribution ratio for BTC aged 6 to 12 months had been recorded twice since 2015 before this recent rise.

Interestingly enough, each surge coincided with the market bottom. The increase to 77% in 2015 occurred during the cycle bottom. Additionally, during the depths of 2019, realized cap contribution ratio for BTC aged 6 to 12 months saw another rise to 70%.

Several market watchers have called the bottom of this cycle despite a few others asserting that the markets could still see further dips before a major bull run. This metric conforms with the assertion of a cycle bottom, especially as BTC failed to retest mid-June’s lows.

BTC supply on exchanges dips to a 4-year low of 8.98%

Additionally, it indicates how strong the will of most BTC holders is, regardless of the inauspicious market weather, as investors are willing to keep their BTC unmoved for over six months. Ki pointed out the difficulty involved in this practice especially considering market realities.

Furthermore, Santiment recently highlighted another bullish signal from an exchange indicator. Data suggests that investors are taking their BTC off exchanges, as the supply ratio of BTC on exchanges falls to 8.98% for the first time since 2018.

With the ratio of BTC supply on exchanges seeing a dip, confidence is pumped into the space as selloff risks get reduced. Generally, investors take their assets off exchanges to personal wallets when they intend to hold them for a long time.

BTCUSD Chart by TradingView

Amidst these promising indications, BTC is silently staging a comeback against the bears. The asset has moved above the support at $19k as it looks to conquer the $20k resistance level. BTC is changing hands at $20,110 as of press time, up 3.63% in the past 24 hours.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96911.65 (-0.05%)
Объем 24H $40.666b
Изменеия 24h: -0.44 %, 7d: -5.68 %
Cегодня L: $96041.94 - H: $97458.26
Капитализация $1918.814b Rank 1
Цена в час новости $ 20350.61 (376.21%)

bitcoin accumulation btc rises massive surge 2015

Источник: zycrypto.com

bitcoin accumulation → Результатов: 126


Фото:

Bitcoin Price Analysis: Slow Upward Drift Tests Market Supply

A slow, grinding upward drift has been the name of the game for bitcoin’s market over the last few weeks. The upward drift is bringing us slowly to a level that was previously rejected violently:Figure 1: BTC-USD, Daily Candles, Upward DriftOur third rejection of the red resistance level shown above brought the market into a test of macro support in the mid-$3,000s.

2019-3-23 01:23


Bitcoin SV (BSV) Long-term Price Analysis – March 2

BSV/USD market slight downward movement appears to be imminent. A decent long entry may be found under the two SMAs while traders need to exercise patience. BSV/USD Long-term Trend – Ranging Distribution territories: $90, $100, $110 Accumulation territories: $40, $30, $20 Between February 24 and 27, BSV/USD trade witnessed notable both decline and uprise during […]

2019-3-2 12:03


Фото:

New Data Shows Bitcoin Accumulation is in Full Swing

Bullish signs are everywhere for Bitcoin (BTC) March 1st as the largest cryptocurrency continues its record-breaking bear market cycle in 2019. Addresses Amassing Coins At 4K Capping a fifth day of broad stability, the bitcoin price was holding steady at around $3850 Friday, while data from traders suggested February ended the worst six-month performance for bitcoin ever recorded.

2019-3-1 18:00


Bitcoin SV (BSV) Long-term Price Analysis – February 23

BSV/USD market still sees its major range movements under downward pressure mode. A strong price action needs to be awaited to effect a change in the current market trend. BSV/USD Long-term Trend – Ranging Distribution territories: $90, $100, $110 Accumulation territories: $40, $30, $20 Trade between the USD and BSV still features within the range […]

2019-2-23 12:04


Фото:

Bitcoin Price Analysis: Strong Move Likely Following Tightly Coiled Market

Days and days of sideways consolidation and tightening volume has been the name of the game for the bitcoin market. A narrow range of $200 has caused a weeks worth of activity to coil and consolidate in preparation for bitcoin’s next move:Figure 1: BTC-USD, Daily Candles, Narrow RangeThe figure above shows just how narrow the range has been over the last week as the market has continued to grind out support and fail to break above overhanging resistance.

2019-1-26 03:13


Cryptocurrency analysts predict the end of the Bitcoin bear market

Blockchain investigators have employed a neat method for analyzing Bitcoin activity to determine at what point long-term holders typically yield and sell their Bitcoin. Delphi Digital, an independent research boutique specializing in the digital asset market, has studied Bitcoin transaction data and market prices, calculating that Bitcoin investors are (for the most part) done with their selling.

2019-1-10 19:02


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.

Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.

Bitcoin Price Dips Again: Is The Momentum Shifting?

Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.