Recently, prices have been on the rise again, Bitcointhere has been a notable increase in demand for the largest cryptocurrency asset among short-term holders, suggesting strong optimism about BTC's near-term growth potential.
Short-term holders seek Bitcoin rebound
Axel Adler Jr., a macro researcher and author at leading on-chain company CryptoQuant, recently said, reported Average demand for Bitcoin from short-term holders resumes after positive developments in BTC short-term holder supply 30D change metric After a period of decline.
According to market data, these investors are typically identified by having owned BTC for less than 155 days and are once again actively buying the cryptocurrency. This rebound reflects renewed interest among retail holders, which may be driven by increased optimism about the potential for overnight price increases.
After thoroughly analyzing the short term holder The expert highlighted that the supply 30D change indicator has witnessed a recovery over the past 18 days even though the supply change oscillator has remained consistently in negative territory. He further highlighted that during the same period, supply increased by approximately 15%, or 0.95% daily.
So far, investors and traders are watching developments closely. Potential price increases are on the horizonEspecially during times of broader market uncertainty.
Bitcoin short-term holders request As Adler pointed out in another previous post, volatility will increase as it gradually returns to the market. “Volatility is returning to the market and it goes both ways, so you need to always assess risk when making trading decisions,” he said.
adler noticed The leverage amount of the three crypto exchanges is currently 32%. On the other hand, a surge of more than 55% could lead to a “series of liquidations.”
Will BTC reach new highs soon?
As hopes for a massive rally continue to rise, market expert and MN Consultancy CIO Michael Van de Poppe takes a closer look at BTC's recent performance. predict Digital assets may reach new peaks soon. Van de Poppe stressed that Bitcoin is in a correction period, which means the market could “show some weakness.”
However, given upcoming important events such as the US presidential election and the potential Interest rate cuts by the Federal Reserve (Fed)Van de Poppe believes that this event could cause significant price movements for Bitcoin in the coming weeks. New all-time high “It's close.”
At the time of this writing, BTC is trading at $67,899, indicating a gain of 0.70% over the past day. Although the price is slowly rising, BTC trading volume has decreased by 2% in the past 24 hours, indicating a negative outlook.
Featured image from Unsplash, chart from Tradingview.com
